A Corporate Resolution For Bank Account is required when a corporation needs to establish or modify its banking relationship. This document is mandated by U.S. banking regulations and corporate governance requirements to protect both the corporation and the financial institution. It typically follows a board meeting where banking authorities are discussed and approved. The resolution specifies who can open accounts, sign checks, make deposits, withdraw funds, and handle other banking transactions. It's particularly important when setting up new accounts, changing authorized signers, or updating banking relationships.
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1. Header Information: Corporation name, meeting date, and resolution number
2. Declaration of Authority: Statement of the board's authority to make the resolution
3. Bank Details: Name and address of the bank where account will be opened/maintained
4. Authorization Details: Specific powers being granted regarding the bank account
5. Authorized Persons: Names and titles of individuals authorized to act on behalf of the corporation
6. Certification: Secretary's certification of the resolution's validity
1. Special Instructions: Any specific requirements for account operation, used when special handling is needed
2. Digital Banking Authorization: Authorization for online banking services, included when online banking is required
3. Multiple Account Provisions: Used when authorizing multiple accounts or different types of accounts
1. Schedule A - Authorized Signatories: Detailed list of authorized signatories with specimen signatures
2. Schedule B - Account Details: Specific account numbers and types being authorized
3. Appendix 1 - Supporting Documents: Copies of board meeting minutes or other supporting documentation
Relevant legal definitions
Corporation
Board of Directors
Resolution
Banking Institution
Authorized Signatories
Authorized Representatives
Banking Transactions
Corporate Seal
Secretary's Certificate
Account
Deposit Account
Operating Account
Signatory Authority
Banking Powers
Electronic Banking Services
Wire Transfer
Specimen Signature
Corporate Officers
Meeting Minutes
Bylaws
Articles of Incorporation
Governing Documents
Financial Institution
Corporate Records
Banking Relationship
Board of Directors
Resolution
Banking Institution
Authorized Signatories
Authorized Representatives
Banking Transactions
Corporate Seal
Secretary's Certificate
Account
Deposit Account
Operating Account
Signatory Authority
Banking Powers
Electronic Banking Services
Wire Transfer
Specimen Signature
Corporate Officers
Meeting Minutes
Bylaws
Articles of Incorporation
Governing Documents
Financial Institution
Corporate Records
Banking Relationship
Clauses
Authorization
Delegation of Powers
Banking Powers
Account Operation
Certification
Specimen Signatures
Documentation Requirements
Electronic Banking
Execution Authority
Amendment Powers
Account Access
Signatory Limits
Banking Instructions
Corporate Authority
Attestation
Ratification
Notice Requirements
Security Procedures
Termination Authority
Governing Law
Delegation of Powers
Banking Powers
Account Operation
Certification
Specimen Signatures
Documentation Requirements
Electronic Banking
Execution Authority
Amendment Powers
Account Access
Signatory Limits
Banking Instructions
Corporate Authority
Attestation
Ratification
Notice Requirements
Security Procedures
Termination Authority
Governing Law
Relevant Industries
Relevant Teams
Relevant Roles
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