Bank Secrecy Act (BSA): Federal law requiring financial institutions to assist government agencies in detecting and preventing money laundering, including requirements for reporting and record keeping

USA PATRIOT Act: Federal legislation that includes customer identification program requirements for financial institutions to verify the identity of individuals and entities opening bank accounts

Federal Reserve Regulation CC: Federal regulation governing funds availability and collection of checks, which affects how quickly deposited funds must be made available

FDIC Regulations: Federal deposit insurance regulations that protect bank depositors and establish operational requirements for insured banks

Uniform Partnership Act (UPA)/Revised Uniform Partnership Act (RUPA): State-adopted legislation that governs partnership formation, operations, and dissolution, including authority to conduct banking activities

State Banking Regulations: State-specific laws and regulations governing banking operations and account opening procedures within the state's jurisdiction

State Business and Commercial Codes: State-specific laws governing business operations and commercial transactions, including partnership operations

EIN Requirements: Internal Revenue Service requirements for Employer Identification Numbers, necessary for partnership bank account opening

Know Your Customer (KYC): Banking industry standards and procedures for verifying customer identity and assessing risk factors in account relationships

Customer Due Diligence (CDD): Banking requirements for understanding customer relationships, ownership structures, and business activities to ensure regulatory compliance

Partnership Agreement Authority Provisions: Internal partnership document provisions specifying who has authority to open and manage bank accounts on behalf of the partnership