A Beneficial Owner is an individual who owns or controls the entity doing business with Bank of the James. Federal regulation requires financial institutions to obtain, verify and record information about the Beneficial Owner.
The following individuals are considered Beneficial Owners:
Each individual who, directly or indirectly, owns 25% or more of the equity interests of an entity.
Any individual with significant responsibility for controlling or managing the entity, for example the senior executive officer, senior manager, etc.