HOW TO SERVE LEGAL PAPERS ON CHASE BANK (JP MORGAN & WASHINGTON MUTUAL)

CHASE BANK

By: Akanksha A. Panicker

JPMorgan Chase & Co. is an investment bank and financial services distribution corporation. The corporation is a significant provider of different investment business and insurance resources as a ‘Bulge Bracket’ bank. Along with Bank of America, Citigroup, and Wells Fargo, America’s Big Four banks.

JPMorgan Chase is classified as a universal bank as well as a custodian bank. The investment banking, money management, corporate banking, private wealth management, and treasury services departments also use the J.P. Morgan name. JPMorgan Chase Bank, N.A.—the real trustee—is in charge of the fiduciary operation in private banking and private asset management. The Chase brand is used for credit card services in the United States and Canada, retail banking in the United States, and business banking in the United States. Both the retail and industrial banks and the bank’s corporate offices are now headquartered at 383 Madison Avenue in Midtown Manhattan, New York City. Simultaneously, the previous headquarters site, 270 Park Avenue, is being demolished and replaced by a new building.  The Financial Stability Board classifies it as a systemically essential bank.

[1.0] WHAT DOES CHASE BANK DO 

Chemical Bank was the new organization’s initial name, which absorbed Chase Manhattan and adopted its name. When Chase Manhattan Corporation consolidated with J.P. Morgan & Co. in 2000, the current organization was created. The ensuing JPMorgan Chase & Co. (JPM) bank has established itself as a leading financial services holding company and the biggest bank by assets in the United States.

Consumer finance, corporate banking, merchant banking, and wealth management are among the brand’s facilities to customers, businesses, institutions, and governments worldwide. JPMorgan Chase & Co., headquartered in New York City, interact on a global scale with a diverse variety of institutions, financial firms, investment management firms, hedge funds, asset exchange firms, private equity firms, insurance agencies, and investment managers, including Bank of America Corp. (BAC), Citigroup Inc. (C), Morgan Stanley (MS), Wells Fargo & Co. (WFC), and Goldman Sachs Group Inc. (GS).

JPMorgan receives its revenue and net income by functioning across  business segments like [A.] Consumer and Community Banking; [B.] Corporate & Investment Bank; [C.] Commercial Banking; Asset & Wealth Management; and [D.] Corporate affairs.

  1. Consumer & Community Banking: Offers deposit and savings options, cash management, payment strategies, mortgage origination and servicing, credit card issuance, and auto loans to individuals and companies.
  2. Corporate & Investment Bank: Offers companies, customers, financial firms, and governments investment finance, market-making, prime brokerage, and treasury and equity products and services.
  3. Commercial Banking:  Provides integrated financing options to customers such as small companies, mediumsized and major enterprises, and municipal governments, including leasing, wholesale transfers, investment banking, and wealth management offerings.
  1. Asset & Wealth Management:  Provides offerings across all asset groups and manages over a trillion dollars via assets under management (AUM). Also, the division offers retirement products and facilities, as well as investment and finance.
  1. Corporate: JPMorgan’s Corporate division- along with other factors- tracks, controls, reports on and oversees the bank’s liquidity, financing, cash, and foreign exchange costs.

 [2.0] PROCESS SERVICE ON THE REGISTERED AGENT

While the Secretary of State may be designated as an agent, it does not preclude any domestic corporation or authorized foreign corporation from also appointing a registered agent in the state upon whom process against such corporation may be served. To become a company, limited partnership, LLC, or LLP in New York, paperwork must be filed with the New York Department of State, Division of Corporations (commonly referred to as the Secretary of State). To register a foreign entity in New York, one must first file a Notice of Registration (for an LLP) or an Application for Authority (for all other foreign entities).

This initial registration form shall name the Secretary of State as the business entity’s representative for service of procedure and have an address to which the Secretary of State may forward any legal papers received on behalf of the entity (which can be a Post Office box or an out-of-state address). After completing the preliminary registration, the business organization can alter its registered agent by submitting a Certificate of Change to the Secretary of State and submitting a USD30 charge.

A ‘registered agent’ ( otherwise known as an agent for service of process) is a person or company that a company appoints to receive official legal documentation such as litigation documents, subpoenas, wage garnishments, as well as other formal legal documentation. Any business, limited liability company (LLC), limited liability partnership (LLP), or limited partnership in New York must have a licensed agent, who is either [A.] established in New York (a domestic entity); or [B.] structured in another state, province, or nation and doing business in New York (a foreign entity).

 For Chase Bank, the registered agent is CT Corporation, or the Corporation Trust Company, a wholly-owned subsidiary of Wolters Kluwer; CT Corporation is the largest registered agent service firm globally, representing hundreds of thousands of business entities worldwide. CT Corporation can accept service of process on behalf of Chase Bank. 

The registered agent’s responsibilities include [A.] retaining a New York street address (that does not include a PO box, private postal box, or mail service), [B.] obtaining process service for the company;[C.] receiving other official papers mailed or sent on the business’s behest, such as license renewal notices; and [D.] promptly forwarding all legal papers issued to the business owner.

Professional agents occasionally have additional requirements they offer, such as reviewing and recording registry papers, providing notices when annual reports or license renewals are required, and information storage.

Any such designation of a registered agent may be made, revoked, or changed, and a registered agent may resign as such agent.  If the Department of State receives a Certificate of Resignation, the agent is terminated from their employ within thirty days. A certificate designating a new registered agent may be delivered to the department of state by the corporation within thirty days or thereafter. Registered agents must still have a fixed street address in New York for their own registered business address. In New York, registered agents would have to be accessible during regular business hours and be eligible to receive official paperwork during these hours.  Should the organization choose to ensure that the company they have chosen as a licensed agent satisfies New York State’s legal standards, they should do a corporate name quest on the Department of State’s Division of Corporations website.

[3.0] PROCESS SERVICE ON CHASE BANK

Subpoenas for JP Morgan Chase need to be provided to the registered agent. For subpoenas to be valid, they need to indicate the court and jurisdiction and include the case number. Chase Bank cannot accept subpoenas’ service at all of its offices, considering that it has multiple entities. Currently, service on the JPMorgan Chase Bank, N.A. (bank accounts & credit cards), Chase Auto Finance Corp., and J.P. Morgan Securities LLC (investments/brokerage accounts)must be provided upon each of these entities to be considered appropriate service. It is necessary to address the subpoena for firms accurately; mailing and personal distribution of subpoenas to these places face interruption and denial. Subpoenas may therefore indicate which documents and data are being obtained. Any subpoenas issued with broad demands (e.g., ‘any) can yield restricted responses. Furthermore, Chase Bank specifies a number for fax service and can be reached by the same. 

Every subpoena must include the court’s identity from which the subpoena was issued and the court’s identity in which the underlying action is pending, complete with a proper citation of the title of the action and the civil action number. The entity in question must be specified to whom the subpoena is directed to be considered applicable and not returned.  It should be noted that a request to quash, fix circumstances, or modify a subpoena must be presented as quickly as practicable in the court where the subpoena is recoverable. 

If the warrant is not returnable in appeal, an attempt to revoke or amend the subpoena must then be sent to the individual who requested it, followed by a petition to quash, correct condition, or modify before the Supreme Court. Furthermore, appropriate terms of reasonable conditions can be put on the grant or refusal of a petition to quash or amend. Chase Bank can be compelled to appear or produce by the court if the serving party [A.]  shows a substantial need for the testimony or material that cannot be otherwise met without undue hardship, and [B.]  ensures that the subpoenaed person will be reasonably compensated.

Every subpoena should include [A.] the text of FRCP 45(c) and (d), which set out the witness’ rights and duties in responding, objecting, or moving to quash the subpoena, [B.] time and place for either the production or inspection of documents or for attendance at a hearing, trial or deposition (known as the return date), [C.] categories of documents sought (if the subpoena commands the production or inspection of documents) and [D.] the method for recording testimony (if the subpoena seeks testimony.) It must be remembered at this point that bank garnishments are separate from subpoenas and must be levied upon the bank at a different address. Chase Bank is a confusing organization to conduct service of process for. Depending on the area, however, the trained officials provide insight into specifics if they have an issue. 

JPMorgan Chase has been in tough competition with its contemporaries by engaging technologically advanced customers and incorporating artificial technology into its products. Currently, it has been acquiring customers via digital platforms to convert them to higher-value consumers later. Furthermore, JPMorgan has recently been actively investing in financial technologies, particularly interested in identifying use cases for implementing artificial intelligence, such as allowing investment banking clients to access analyst reports and stock details using voice assistants.

For more information on serving legal papers, contact a Professional Process Service (800) 774-6922. Representatives are available Monday-Friday 8 am – 8 pm EST.  If you found this article helpful, please consider donating.  Thank you for following our blog, A space dedicated to bringing you news on breaking legal developments, interesting articles for law professionals, and educational material for all. We hope that you enjoy your time on our blog and revisit us!  We also invite you to check out our Frequently Asked Questions About Process Servers.

Sources

1. N.Y. Bus. Corp. Law § 306

Service of process on the secretary of state as an agent of a domestic or authorized foreign corporation shall be made by personally delivering to and leaving with the secretary of state or a deputy, or with any person authorized by the secretary of state to receive such service, at the office of the department of state in the city of Albany, duplicate copies of such process together with the statutory fee, which fee shall be a taxable disbursement. Service of process on such corporation shall be complete when the secretary of state is so served. The secretary of state shall promptly send one of such copies by certified mail, return receipt requested, to such corporation, at the post office address, on file in the department of state, specified for the purpose. If a domestic or authorized foreign corporation has no such address on file in the department of state, the secretary of state shall so mail such copy, in the case of a domestic corporation, in care of any director named in its certificate of incorporation at the director’s address stated therein or, in the case of an authorized foreign corporation, to such corporation at the address of its office within this state on file in the department.

2. JPMorgan Chase Bank, N.A.

c/o CT Corporation Systems

111 8th Avenue, 13th Floor

New York, NY 10011

3. A multi-national information services company based in the Netherlands with operations in over 35 countries.

4. N.Y. Bus. Corp. Law § 305

A certificate, entitled ‘Certificate of the resignation of the registered agent of ………. (name of designating corporation) under section 305 of the Business Corporation Law’, shall be signed by him and delivered to the department of state. It shall set forth:

(1) That he resigns as a registered agent for the designating corporation.

(2) The date the certificate of incorporation or the application for the designating corporation’s authority was filed by the department of state.

(3) That he has sent a copy of the certificate of resignation by registered mail to the designating corporation at the post office address on file in the department of state specified for the mailing of process or if such address is the address of the registered agent, then to the office of the designating corporation in the jurisdiction of its formation or incorporation.

5. 7610 W. Washington St. Fl. 1

Indianapolis, IN 46231

6. FAX: (317) 757-7421

7. Federal Rules of Civil Procedure Rule 45. (3) Quashing or Modifying a Subpoena.

(A) When Required. On timely motion, the court for the district where compliance is required must quash or modify a subpoena that:

(i) fails to allow a reasonable time to comply;

(ii) requires a person to comply beyond the geographical limits specified in Rule 45(c);

(iii) requires disclosure of privileged or other protected matter, if no exception or waiver applies; or

(iv) subjects a person to undue burden.

(B) When Permitted. To protect a person subject to or affected by a subpoena, the court for the district where compliance is required may, on motion, quash or modify the subpoena if it requires:

(i) disclosing a trade secret or other confidential research, development, or commercial information; or

(ii) disclosing an unretained expert’s opinion or information that does not describe specific occurrences in dispute and results from the expert’s study that a party did not request.

8. Bank garnishments go to:

700 Kansas Lane

Mail Code LA4-7200

Monroe, LA 71203

And to list is as JP Morgan Chase Bank, N.A.

9. PH: (800) 935-9935 PH: (317) 757-7422

10.Here is a list of the largest banks in the United States by assets, https://www.businessinsider.in/finance/here-is-a-list-of-the-largest-banks-in-the-united-states-by-assets/articleshow/70848209.cms (last visited Apr 10, 2021) 

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