We (4 owners) have a business account with a local bank. Upon return from a vacation I found all funds except $1.00 were transfered to another account(without permission from 51% of owners, as per operating agreement). The bank will not disclose the owner(s) of this new account, stating that I am not a signer on the new account and they therfore can not disclose any infomation! Do I have any right to find who authorized these moves and who owns the new account? Thirty-five uncashed checks are now being returned nsf. I'm at wit's end.
If you were a signer on the old account, you should be able to find out who authorized the transfer from that account. If you are not on the bank's records as someone authorized to transact business with the new account, they are correct in not divulging to you any particulars about that account.
It appears that you've been edged out, and the bank probably isn't privy to how or why. Your best source of information on what happened and why is the group of people with whom you were in business. If they aren't forthcoming with answers, your first telephone call should probably be to an attorney, in order to protect any interest you have in the business.
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If you were a signer on the old account, you should be able to find out who authorized the transfer from that account. If you are not on the bank's records as someone authorized to transact business with the new account, they are correct in not divulging to you any particulars about that account.