Both the Model Business Corporation Act and the Revised Model Business Corporation Act provide that acts to be taken at a director's meeting may be taken without a meeting if the action is taken by all the directors entitled to vote on the action. The action must be evidenced by one or more written consents bearing the date of signature and describing the action taken, signed by all the directors entitled to vote on the action, and delivered to the corporation for inclusion in the minutes or filing with the corporate records.
This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
Keywords: Pennsylvania Signature Authorization, Unanimous Written Consent, Resolution, Bank, Facsimile Signatures Detailed Description: Pennsylvania Signature Authorization — Unanimous Written Consent Regarding Resolution Authorizing Bank to Honor Instruments Bearing Facsimile Signatures is a legal document used by organizations and businesses in Pennsylvania to grant permission to banks for accepting and honoring instruments that bear facsimile signatures. This authorization is significant as it gives organizations the ability to streamline their financial transactions, making it more convenient and efficient. By granting unanimous written consent through this resolution, businesses ensure that their bank will accept documents and instruments, such as checks, contracts, or other legal documents, that contain facsimile (or reproduced) signatures instead of original handwritten signatures. This type of authorization is particularly useful for businesses that frequently process a large volume of financial transactions. It saves time and effort as the need for physically signing every individual document is eliminated, thus expediting the overall operation. Different types or variations of Pennsylvania Signature Authorization — Unanimous Written Consent Regarding Resolution Authorizing Bank to Honor Instruments Bearing Facsimile Signatures may include: 1. General Authorization: This type of authorization grants the bank permission to honor a wide range of instruments bearing facsimile signatures, including checks, promissory notes, invoices, contracts, or any other legally binding documents. 2. Specific Authorization: In some cases, businesses may choose to grant authorization for a specific type of instrument (e.g., checks only) or a specific range of transactions (e.g., transactions below a certain monetary value). This allows organizations to maintain more control over the types of documents their bank can accept with facsimile signatures. 3. Limited Time Authorization: Sometimes, businesses require authorization for a limited duration, such as during a specific project or event. This authorization is temporary and automatically expires after a predetermined period, ensuring that the authorization is only valid for a specific timeframe. In conclusion, Pennsylvania Signature Authorization — Unanimous Written Consent Regarding Resolution Authorizing Bank to Honor Instruments Bearing Facsimile Signatures is an important legal document that enables businesses to streamline their financial transactions by granting their bank permission to accept documents with reproduced signatures. With different variations available, organizations have the flexibility to tailor the authorization to their specific needs and requirements.
