Re: Banco Popular
Jeffrey requested that an account be set up for FSF LLC with a $200,000 funding from "jee" personal account. Jeanne is asked to initiate paperwork and coordinate with Darren for any FSF LLC related paperwork.
Jeffrey asked that we set up an account in the name of FSF LLC with 200,000 funded from jee personal account Can you please initiate paperwork and coordinate with Darren on any paperwork needed for FSF LLC Thank you
Richard Kahn
HBRK Associates Inc.
I confirm that this is the operating agreement.
As for a description of FSF, LLC, I would provide the following:
"FSF, LLC was originally formed to serve as company to provide its principal with limited liability in connection holding assets to be acquired by the Company. It is now to be used to purchase products and services in connection with the design, building, and furnishing of improvements on Great St. James, a cay located in the U.S. Virgin Islands and beneficially owned by FSF, LLC's principal."
What kind of document will Banc Popular need? Please advise. Thanks.
DARREN K. INDYKE
DARREN K. INDYKE, PLLC
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I delivered FSF,LLC organizational documents to Banco Popular — and as mention they were having an issue with this entity not having a business license. Their procedures for opening a commercial account — requires the entity to have a business license(BL). They have no mechanism for opening an account in the name of an entity which they require to be under commercial account opening that is not in business — if you recall First bank had this issue and we offered to do an affidavit of not doing business and they accepted this in place of a BL. I offered this as a solution to Banco — which they did not agree too.
Banco's suggestion was to open an individual account in JEE's name.
In discussing this with branch representatives in red hook they are getting direction from Ms. Gumbs — whom they indicate is head of compliance.
Note tax wise FSF is disregarded to JEE and if we decided to get a BL we would have trouble renewing annually as the entity does not file tax returns and would not receive a tax clearance letter.
FSF,LLC has a bank account at First Bank, which could be utilized for expense.
EFTA00829433
Please advise.
jee name get biz license , cant hurt
On Thu, Apr 14, 2016 at 2:04 PM, Richard Kahn < > wrote:
please advise
I) pass on FSF account at Banco
obtain business license for FSF and deal with annual renewal 1 year from now
open Banco in jee name
pass
Richard Kahn
HBRK Associates Inc.