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    Shebajones2003 Posts: 1, Reputation: 1
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    Aug 3, 2013, 10:46 AM
    President Co-signer?
    Question: legally through 501(c)(3) law can the president be a co-signer on a promissory note between the organization and another party?
    AK lawyer's Avatar
    AK lawyer Posts: 12,592, Reputation: 977

    Aug 3, 2013, 10:58 AM
    Certainly. Happens all the time when the corporation doesn't have sufficient credit reliablility.

    By the way, 501 (c) (3) is a provision of the federal tax code. Corporate law in general, including the law governing non-profit corporations, is a matter of state law.

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