Skip to content

Gawthrop Presents: Business Banking with Michael Merlie and Stephen Olsen

Gawthrop Greenwood attorneys Stephen J. Olsen and Michael Merlie recently presented a training session on business banking issues for executives and managers of the Franklin Mint Federal Credit Union.  Topics covered at the session included:

  • Formation and Governance of Various Business Entities  – Corporations, Limited Liability Companies, Partnerships, Sole Proprietorships
  • Issues Arising with Changes in Ownership – Including in cases of death, buy-out or sale to third parties
  • Not-For-Profit Entities – Proper documentation required for nonprofit organizations formed under Section 501(c) of the Internal Revenue Code, social and other clubs, reunions, other nonprofit organizations
  • Risk Management Issues – Beneficial ownership, money service businesses, proper documentation on business accounts
  • Special Considerations for Trust Accounts

During the session, bank executives and managers shared many real-life scenarios faced in assisting customers in setting up business accounts, and the team from Gawthrop Greenwood provided insights on how to effectively handle these unique situations.

Gawthrop Greenwood, PC logo

Gawthrop Greenwood, PC has offices in West Chester, PA and Wilmington, DE serving clients throughout the greater mid-Atlantic region and nation. For more than a century, the firm has stood behind its core principle of providing high-quality legal services with personal attention. Gawthrop Greenwood’s diverse portfolio of clients comprises entrepreneurs, businesses, and governmental entities that entrust the firm with their representation in a wide range of matters including mergers and acquisitions, commercial litigation, estate and tax planning, land use and development, and domestic relations. A complete listing of the firm’s practice areas and attorneys, as well as a variety of legal resources, can be found at

Back To Top