We have a business customer that is a limited liability company run by two partners. Recently, one of those individuals passed away. Unfortunately, when the account was opened we did not obtain an Operating Agreement detailing how to proceed in the event of one owner’s death. We have received an updated Limited Liability Company Authorization Resolution removing the individual who has died. Do we need to request an Operating Agreement, or can we remove the deceased person from the account and make a new signature card to reflect the removal of that signer?

In our view, you may remove the deceased customer from the account without requiring an Operating Agreement. Obtaining the revised Limited Liability Company Authorization Resolution should be sufficient to memorialize the customers’ request to remove the deceased customer from the account and update the signature card.