Sounds elegant in its simplicity, but is it acceptable in terms of accounting practice? Do all jurisdictions allow un-incorporated organizations to open accounts? If the answer to those questions is yes, then this might solve one of our problems. The next problem is a bigger one: we don't have any money in NCSG.....:-) Here is hoping Sam can solve that one for us. Stephanie Perrin On 2016-07-04 20:10, Ron Wickersham wrote: > On Mon, 4 Jul 2016, Sam Lanfranco wrote: > >> As Chair of the NCSG finance committee I see our remit as doing the >> research to identify best practices here, identify >> the pluses and minuses of different strategies, and placing that >> information on the table for all to see, and some to use. >> >> It is possible to set up an unincorporated entity account in a >> Canadian bank, >> with full services across currencies, and with two signatures for >> disbursal of funds. >> The handicap there is the need for individual physical bank visits to >> change signing authority. > > Hi Sam, > > Could you consider the strategy of each new Treasurer to set up an > account > that is convenient in his or her circumstances (travel, citizenship, > local > banking laws, etc.) and that as soon as that new account is ready to > accept funds, all the money in the old account is transferred to the new > one? > > This means that there is no longer the requirement of an "eternal" > account > in the name of NCSG where control of that account is transferred, which > as you point out has some big issues if someone distant takes over the > responsibilities of Treasurer. > > In the absence of any bylaws or formation documents that preclude this > approach, it seems to me that the NCSG process that selects the Treasurer > could also approve this method of conducting the Treasurer's business. > > -ron