Pub. 6 2011-2012 Issue 6

March/April 2012 19 Extraordinary Service for Extraordinary Members. For more information, contact Kansas Bankers Surety Co. at (785) 228-0000. all signers are identical. 2) The bank could find a new Internet banking provider that can restrict access to accounts which the specific user has authority. 3) The bank can ignore the contract with its customer and allow other parties to have access to accounts that they have no legal authority to access. While most bankers would never consider the third op- tion, a considerable number of banks have either willingly, or through error, done just that. One large Internet banking provider for banks still allows only one user ID and password to access an account. Some banks that use this systemhave al- lowedmultiple accounts to be accessed by the users of the user ID and password. In some cases one of the joint owners of themain account has no legal authority to be accessing linked accounts but they are allowed to have such access anyway. Every bank needs to review its Internet banking system and determine if the bank allows multiple joint owners of accounts to use the same user ID and password to access the account. If so, the bank needs to make certain that all ac- counts accessible by the user ID and password have identical owners. If the bank finds cases where one joint owner can access accounts which that owner has no legal authority to access, the bank needs to correct the problem immediately. Z ATTENTIVE Nebraska banks are attentive to the needs of the communities they serve. We are here to give you the same attention. Loan Participations Bank Mergers and Acquisitions Succession Planning for Owners Commercial Litigation General Business Representation Regulatory Consultation and Compliance Loan Origination and Workout Loan Default Remedies and Bankruptcy Representation Real Estate Purchase, Sale and Leasing Lincoln Omaha Denver www.woodsaitken.com