I am planning on moving my business account to a different bank. I have a CD at the original bank that is in my name and is going to mature in May. They told me that if I move my business account that I would have to close the CD and move that as well. Is that legal? Am I required to move my CD to the other bank before it matures?
Is it legal? Yes. Banks are not required to accept accounts they don't wish to have, and they can push away any accounts they no longer wish to keep. It's possible that your old bank prefers not to have CD accounts, unless their owners have other business with the bank. There may also be reasons, such as crediting of CD interest.
It's most unlikely that your old bank will require you to move your CD account until it matures. If they were to try to nudge you out the door early, make certain they don't impose any kind of early withdrawal penalty. After all, the move is their idea, not yours.
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I am planning on moving my business account to a different bank. I have a 
Is it legal? Yes. Banks are not required to accept accounts they don't wish to have, and they can push away any accounts they no longer wish to keep. It's possible that your old bank prefers not to have CD accounts, unless their owners have other business with the bank. There may also be reasons, such as crediting of CD interest.