Resolution Selecting Depository Bank for Corporation and Account Signatories
About this form
The Resolution Selecting Depository Bank for Corporation and Account Signatories is a legal document that empowers a corporation to designate a specific bank as its official depository for funds. This form outlines the authority granted to certain officers to manage the corporate bank account, distinguishing it from other corporate resolutions by its focus on banking arrangements and account signatories.
What’s included in this form
- Identification of the chosen banking institution.
- Designation of authorized signatories for the corporate account.
- Certification clause confirming the validity of the resolution.
- Space for the corporation's details and meeting date.
- Signature lines for the corporate officers approving the resolution.
When to use this document
This form is essential for corporations that need to establish a formal banking relationship. Use this resolution when your corporation decides to open a bank account and needs to specify which bank will hold its funds and who will have signing authority on the account. It is particularly useful for newly formed corporations, those changing banking institutions, or when updating signatory requirements.
Who this form is for
- Corporation directors and officers who need to establish or change banking arrangements.
- Corporation owners seeking to formalize authorizations for accessing corporate funds.
- Administrative personnel responsible for corporate governance and financial affairs.
Steps to complete this form
- Identify the bank chosen as the depository and write its name in the appropriate field.
- List the names and titles of the authorized officers who will sign on behalf of the corporation.
- Enter the date and details of the corporate meeting where this resolution was adopted.
- Ensure that the corporate seal is affixed if required by local law.
- Have the authorized officers sign the form to finalize the resolution.
Notarization guidance
Notarization is generally not required for this form. However, certain states or situations might demand it. You can complete notarization online through US Legal Forms, powered by Notarize, using a verified video call available anytime.
Get your form ready online
Our built-in tools help you complete, sign, share, and store your documents in one place.
Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Avoid these common issues
- Failing to include the required signatures of authorized officers.
- Not specifying the correct banking institution in the resolution.
- Neglecting to update the form when signatories change.
- Overlooking the need for a corporate seal when required.
Advantages of online completion
- Convenient access to professionally drafted templates customized for your needs.
- Editability allowing you to tailor the form to your specific corporate requirements.
- Immediate download after completion, saving time and effort.
- Guidance from licensed attorneys ensures that the form meets legal standards.
What to keep in mind
- Establishes banking authority for your corporation.
- Outlines which officers can access corporate funds.
- Should be completed accurately to avoid issues with banking operations.
- Important for maintaining organized and lawful financial practices.
Looking for another form?
Form popularity
FAQ
I, (Name) hereby authorize Mr/MS. (Name) to sign all the documents related to my (mention relevant documents here like property located, bank account number etc.) on my behalf excluding the documents (mention documents that are excluded), starting from (Date) till (Date).
Signatory or Authorized Signer: This is someone who is authorized to sign documents on behalf of a particular account. With a banking account, they can write checks, make deposits and access basic info regarding the account.
Authorized signers on bank accounts. In banking, personal and business account holders can authorize someone else to manage their account. These people are also usually called authorized signatories. Many banks require account holders to be recognised as authorized signatories, too.
List the account number and the account's holder name. Identify the authorized person by name, ID type, and number. Provide an authorization scope: the list of authorized actions, which in your case is the signing of documents.
An 'account holder' is the person or persons shown on the full name of the account.They are able to open a new account, add/remove another signatory or change contact details. An 'authorised signatory' is someone we've both agreed can access and use your accounts.
You can name a friend or family member to act on your behalf by creating and signing a document called a power of attorney (or durable power of attorney). In that case, your bank account can remain in your name only, but the person you name in your power of attorney your agent can help you with banking.
Call your bank to ask about their requirements for adding a signatory. The process varies somewhat from bank to bank. You and your new signatory will likely need to visit the bank in person, present photo I.D. and sign forms.
I, (Name) hereby authorize Mr/MS. (Name) to sign all the documents related to my (mention relevant documents here like property located, bank account number etc.) on my behalf excluding the documents (mention documents that are excluded), starting from (Date) till (Date).
