Bank accounts and articles of incorporation
Second question:
A common issue clients seem to run into is that in order to open accounts (and subsequent lines of credit and loans and what not), banks require to see the articles of incorporation.
In some cases, the registered head office is no longer at all valid due to moves (as compared to current mailing/business address) that the bank has on file.
To change this, for Ontario corps, would they simply file the form1 and attach that to the articles, or do they actually have to amend the articles of incorporation (at a cost of $125?)?
(Any insight from the bankers here? Maybe I should cross-post in personal finance?)
A common issue clients seem to run into is that in order to open accounts (and subsequent lines of credit and loans and what not), banks require to see the articles of incorporation.
In some cases, the registered head office is no longer at all valid due to moves (as compared to current mailing/business address) that the bank has on file.
To change this, for Ontario corps, would they simply file the form1 and attach that to the articles, or do they actually have to amend the articles of incorporation (at a cost of $125?)?
(Any insight from the bankers here? Maybe I should cross-post in personal finance?)