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Board Resolution For Bank Account Signatory
"I need a Board Resolution for Bank Account Signatory for our newly incorporated Canadian tech startup, authorizing our CEO and CFO as joint signatories for all banking transactions above $10,000, with individual signing authority for lesser amounts."
1. Title and Date: Formal title of the resolution and date of the board meeting
2. Company Details: Full legal name of the corporation, registration number, and registered address
3. Meeting Details: Confirmation of proper notice, quorum, and meeting validity
4. Recitals: Background information explaining the need for the resolution and confirming board authority
5. Bank Account Details: Specification of the bank name, branch, and account numbers affected by the resolution
6. Resolution Statement: The formal 'BE IT RESOLVED' statement outlining the board's decision
7. Authorized Signatories: Names, titles, and positions of individuals authorized to sign
8. Signing Authority Rules: Specific rules for signing (e.g., any two to sign, specific combinations)
9. Certification: Secretary/Chairman's certification of the resolution's validity
10. Signatures: Space for required signatures of directors/officers
1. Previous Resolutions: Statement revoking or amending previous signing authorities, used when changing existing arrangements
2. Digital Banking Authorization: Specific provisions for online banking access and authorities, used when digital banking services are required
3. Special Instructions: Any special requirements or limitations on signing authority, used for complex signing arrangements
4. Corporate Seal: Space and authorization for affixing corporate seal, used when required by corporate bylaws or bank
5. Effective Date: Specific date when the new signing authorities take effect, used when implementation date differs from resolution date
1. Schedule A - Account Listing: Detailed list of all bank accounts covered by the resolution, including account numbers and types
2. Schedule B - Authorized Persons Details: Detailed information about authorized signatories including specimen signatures and contact information
3. Schedule C - Signing Authority Matrix: Matrix showing different transaction types and required signature combinations
4. Appendix 1 - ID Requirements: List of identification documents required by the bank for each signatory
5. Appendix 2 - Bank Forms: Any specific bank forms that need to be attached to the resolution
Authors
Financial Services
Banking
Corporate Services
Manufacturing
Retail
Technology
Healthcare
Real Estate
Construction
Professional Services
Non-Profit
Education
Energy
Transportation
Agriculture
Mining
Telecommunications
Board of Directors
Executive Leadership
Finance
Legal
Corporate Governance
Treasury
Accounting
Corporate Secretariat
Risk Management
Compliance
Chief Executive Officer
Chief Financial Officer
Corporate Secretary
Board Director
President
Vice President
Treasurer
Financial Controller
Managing Director
Executive Director
Finance Manager
Company Secretary
Board Chairman
Chief Operating Officer
Director of Finance
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