[Board] Banking

Sean Egan seanegan at gmail.com
Fri Nov 3 16:00:08 EST 2006

After we all agreed to open an account at Bank of America, I
discovered that it is next to impossible to open an account in
Washington state. Washington requires that I have a license to
practice business in Washington, which isn't something we wanted to
have to deal with.

The lawyers called BoA and found out I could open an account over the
phone in Delaware and than access it from Washington. However, it
turned out that DE is one of the few states that we can't open an
account over the phone in.

I looked at every national bank in Seattle, and not one of them had
branches in Delaware.

The lawyers said it was ok to get an account anywhere, so I asked
Ethan to see if we could get an account in Indiana without a license.
He went to CharterOne this morning, equipped with our incorporation
papers and EIN (like a social security number for corporations), and
determined it is possible to get an account.

Since we need to start paying people real soon, I propose we open an
account in Indiana as soon as possible, and nominate Ethan as our new
treasurer. Any nay's?


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