Quote:
Originally Posted by Rosiebotboss
That being said, you do not need to jump in with both feet into a 501 right away. AREA started out as noth8ing more than a checking account, opened by a couple (non related) parents that the bank will set up to require 2 signatures on each check. The 2nd signer MUST be non related to the other signer, either by marriage or blood. The 2nd signer adds a level of security to misuse of funds.
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This has become harder recently; few banks want to deal with requiring multiple signatures. My church was interested in requiring a second signature about four or five years ago. We only found one bank in our area that offered this as an option (on a business account). It is a large national bank which fortunately has a branch two blocks away from the church!