Document background
A Corporate Resolution Bank Account Authorized Signers is a fundamental governance document required by Canadian banks and financial institutions when establishing or modifying banking relationships with corporate entities. This document is essential when a company needs to open new bank accounts, change authorized signers, or update signing authorities. It demonstrates that proper corporate authorization has been obtained in accordance with Canadian federal and provincial corporate laws, including the Canada Business Corporations Act and provincial equivalents. The resolution typically results from a formal board meeting and must be certified by appropriate corporate officers. It provides banks with clear instructions regarding who can access and manage corporate funds, including specific transaction limits and requirements for dual signatures where applicable. This document is particularly important during leadership transitions, corporate restructuring, or when establishing new banking relationships.
