Finance Code § 277.002

Sec. 277.002. ACCOUNT INFORMATION REQUIRED. (a) A financial institution shall require, as a condition of opening or maintaining a business checking account, that the applicant or account holder provide: (1) if the business is a sole proprietorship: (A) the name of the business owner; (B) the physical address of the business; (C) the home address of the business owner; and (D) the driver's license number of the business owner or the personal identification card number issued to the business owner by the Department of Public Safety; or (2) if the business is a corporation or other legal entity, a copy of the business's certificate of incorporation or a comparable document and an assumed name certificate, if any. (b) The financial institution shall request that the account holder inform the institution at least annually of any changes in the information the institution is required to obtain under Subsection (a). Added by Acts 1999, 76th Leg., ch. 998, Sec. 1, eff. Sept. 1, 1999.