Can I be held liable for anything if the non-profit organization, that I am no longer involved in, doesn’t remove my name as an authorized signer from theichecking account?

Asked on July 24, 2014 under Business Law, Illinois

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 6 years ago | Contributor

Legally, if you are not longer employed there, you should not be liable for any amounts (and generally, an employee is not liable for his/her employer's debts unless the employee did something wrong, too, or unless the employee guaranteed the debt in some way). On the other hand, you never want to be connected to an account that you don't actually control, since there's always the *chance* for liability to arise somehow--e.g. if someone else embezzles or steals by signing a check with your name, making it look like you used your residual check signing authority to do this. Tell the company to remove your name and also go straight to the bank, with evidence that you no longer work there, and ask them to get your name off the account.


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