The Partnership Resolution For Opening Bank Account is a crucial document required by Canadian financial institutions when partnerships seek to establish banking relationships. This resolution is necessary to comply with both federal banking regulations and provincial partnership laws. It is typically prepared when a partnership is first formed, when changing banking institutions, or when modifying banking arrangements. The document must include specific details about the partnership, authorized individuals, and the scope of banking activities permitted. It serves as protection for both the partnership and the bank by clearly defining who has authority to conduct banking transactions and under what conditions. The resolution must align with the Partnership Act of the relevant province and the federal Bank Act, while also meeting the specific requirements of the chosen financial institution.
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1. Partnership Information: Full legal name of partnership, business address, and registration details
2. Date and Location: Date and place of the partners' meeting where the resolution was passed
3. Attendance: List of partners present at the meeting and confirmation of quorum
4. Banking Resolution: Main resolution text authorizing the opening of the bank account
5. Bank Details: Name and branch of the chosen banking institution
6. Authorized Signatories: Names, positions, and signing authorities of partners/individuals authorized to operate the account
7. Signing Requirements: Specifications for transaction approval (e.g., single/joint signatures, transaction limits)
8. Certification: Statement certifying that the resolution was duly passed according to partnership agreement
9. Authentication: Space for required signatures of partners and witnesses
1. Online Banking Authorization: Authorization for internet banking services and designation of users - include when partnership requires online banking access
2. Credit Facility: Authorization for credit facilities or overdraft protection - include if partnership requires these banking services
3. Foreign Currency Accounts: Authorization for opening and operating foreign currency accounts - include if partnership conducts international business
4. Special Instructions: Any special operating instructions or restrictions - include if there are specific operational requirements
5. Additional Services: Authorization for additional banking services like merchant services or corporate credit cards - include if these services are required
1. Schedule A - List of Partners: Complete list of all partners with their details and ownership percentages
2. Schedule B - Specimen Signatures: Specimen signatures of all authorized signatories
3. Schedule C - Partnership Registration: Copy of partnership registration certificate or business registration
4. Schedule D - Banking Services: Detailed list of required banking services and products
5. Appendix 1 - ID Documents: Copies of identification documents for all authorized signatories
Relevant legal definitions
Partnership
Partners
Bank
Banking Services
Authorized Signatories
Operating Account
Signing Authority
Resolution
Banking Day
Electronic Banking
Partnership Agreement
Business Address
Designated Branch
Transaction Limits
Specimen Signature
Joint Authority
Several Authority
Account Mandate
Online Banking Services
Security Devices
Digital Banking Credentials
Partnership Registration Number
Business Identification Number
Authorized Representative
Operating Instructions
Corporate Banking Platform
Partnership Assets
Majority Vote
Quorum
Special Resolution
Partners
Bank
Banking Services
Authorized Signatories
Operating Account
Signing Authority
Resolution
Banking Day
Electronic Banking
Partnership Agreement
Business Address
Designated Branch
Transaction Limits
Specimen Signature
Joint Authority
Several Authority
Account Mandate
Online Banking Services
Security Devices
Digital Banking Credentials
Partnership Registration Number
Business Identification Number
Authorized Representative
Operating Instructions
Corporate Banking Platform
Partnership Assets
Majority Vote
Quorum
Special Resolution
Clauses
Authorization
Account Operation
Signing Authority
Banking Powers
Transaction Limits
Online Banking
Partner Confirmation
Certification
Bank Mandate
Documentation Requirements
Account Access
Security Measures
Partnership Representation
Amendment Authority
Specimen Signatures
Banking Services
Execution Authority
Communication Protocol
Statement Delivery
Account Administration
Account Operation
Signing Authority
Banking Powers
Transaction Limits
Online Banking
Partner Confirmation
Certification
Bank Mandate
Documentation Requirements
Account Access
Security Measures
Partnership Representation
Amendment Authority
Specimen Signatures
Banking Services
Execution Authority
Communication Protocol
Statement Delivery
Account Administration
Relevant Industries
Professional Services
Retail
Construction
Manufacturing
Technology
Healthcare
Real Estate
Consulting
Agriculture
Food Services
Transportation
Wholesale Trade
Financial Services
Creative Industries
Relevant Teams
Finance
Legal
Operations
Administration
Treasury
Compliance
Corporate Governance
Executive Leadership
Accounting
Relevant Roles
Managing Partner
Senior Partner
Financial Controller
Chief Financial Officer
Business Manager
Accountant
Office Manager
Treasury Manager
Company Secretary
Operations Manager
Finance Director
Administrative Director
Partnership Administrator
Compliance Officer
Legal Counsel
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