The Company Board Resolution To Open Bank Account is a crucial corporate document required when a company needs to establish a banking relationship. It demonstrates proper corporate governance and ensures compliance with U.S. banking regulations and state corporate laws. This resolution typically follows a board meeting where the decision to open a bank account is formally approved. The document includes details about the authorized signatories, their powers, the type of account to be opened, and any specific operational instructions. It serves as evidence to the bank that the company has followed proper internal procedures and that the individuals presenting themselves as authorized to operate the account have been duly approved by the board.
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1. Title and Date: Formal identification of the document and date of resolution
2. Company Details: Legal name, registration number, and registered address of the company
3. Meeting Details: Information about the board meeting including date, time, location, and quorum confirmation
4. Resolution Statement: Formal declaration of the board's decision to open a bank account
5. Bank Details: Name and address of the chosen bank
6. Authorized Signatories: List of persons authorized to operate the account
7. Certification: Statement certifying the resolution's authenticity
1. Special Instructions: Any specific operating instructions for the account, used when special operating conditions are required
2. Multiple Account Authorization: Authorization for opening multiple accounts, used when company needs multiple accounts
3. Digital Banking Authorization: Authorization for online banking services, used when online banking access is required
1. List of Authorized Signatories: Detailed list of authorized persons with specimen signatures
2. Supporting Documents: List of required KYC documents to be submitted to the bank
3. Specimen Signature Card: Bank's signature card with authorized signatures
Relevant legal definitions
Clauses
Resolution Declaration
Authority Grant
Bank Account Details
Signatory Powers
Operating Instructions
Transaction Limits
Authentication
Documentation Requirements
Digital Banking Authorization
Account Type Specification
Certification
Meeting Details
Quorum Confirmation
Board Approval
Secretary Attestation
Specimen Signatures
Corporate Seal Authorization
Bank Communications
Amendment Authority
Effective Date
Authority Grant
Bank Account Details
Signatory Powers
Operating Instructions
Transaction Limits
Authentication
Documentation Requirements
Digital Banking Authorization
Account Type Specification
Certification
Meeting Details
Quorum Confirmation
Board Approval
Secretary Attestation
Specimen Signatures
Corporate Seal Authorization
Bank Communications
Amendment Authority
Effective Date
Relevant Industries
Relevant Teams
Relevant Roles
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