HOA Bank Account
We are a self managed HOA (3 units - we are all just moved in). We are wondering how we could open a bank account to keep our fund? Should the bank account be a joint account that have all the owner name? What type of account should we open? Thank you, Ken
Answers and Comments
It needs to be a commercial/business account opened in the name of the HOA, and the person designated as the treasurer should have sole access to it.
30 Dec 2019