May I assign a Power of Attorney to my business account?
A personal POA, generally, would not extend powers to act with regard to a business account with the exception of an account of a sole proprietor. However, there may be some exceptions. It is recommended that access to business accounts be requested through the addition of authorized signers. If access is being requested through a power of attorney document, please allow 2-3 days for review.
May I assign a beneficiary (POD) to my business account?
A Sole Proprietorship is the only type of business entity that can add a POD.
Type of Business Account | YES | NO |
---|
Sole Proprietorship | X | | - Type of Business Account
- Sole Proprietorship
- Yes/No
- Yes
|
LLC | | X | - Type of Business Account
- LLC
- Yes/No
- No
|
Corporation | | X | - Type of Business Account
- Corporation
- Yes/No
- No
|
Partnership | | X | - Type of Business Account
- Partnership
- Yes/No
- No
|
You can find more information about Delta Community's business accounts by visiting Small Business.