A multi-family dwelling is one that will accommodate five or more families such as a 20 unit apartment complex. For a loan secured by one dwelling for the purchase of another dwelling, report the location of the property taken as security. This limit applies to transfers to another account of the depositor at the same bank and to a third party by means of a preauthorized, automatic transfer, or telephonic agreement. No more than three of the six transfers may be made by check, draft, debit card or similar order to third parties. Transfers made by mail, messenger, ATM, or in person from the account to another account of the same depositor at the same bank.
Many states specifically identify a sole proprietorship as an entity owned by ONE person.
In these states, ownership by more than one individual constitutes either a formal or informal partnership. Not for profit organizations operating primarily for religious, philanthropic, charitable or educational purposes. Other political and governmental entities. Federal Reserve Regulation O prohibits insiders of the bank from having overdrafts. It does not apply to the accounts of the related interests of the insider.