Board Resolution for Opening Bank Account Word Format Download

BOARD RESOLUTION: AUTHORIZATION TO OPEN AND OPERATE CORPORATE BANK ACCOUNT

DOCUMENT CONTROL

• Effective Date: [Insert Date]
• Version: 1.0
• Jurisdiction: [Insert State/Country]
• Scope: Banking Authority and Institutional Authorization

LEGAL DISCLAIMER

This document is provided for informational purposes as a template. It does not constitute legal or tax advice. Corporate banking requirements vary significantly by institution and jurisdiction. Counsel strongly recommends that this document be reviewed by your internal legal department or external corporate counsel prior to execution to ensure compliance with your specific Articles of Incorporation, Bylaws, and local banking regulations.

CERTIFIED EXTRACT OF BOARD RESOLUTION

OF [COMPANY NAME] (A [Type of Entity, e.g., Corporation/LLC] organized under the laws of [Jurisdiction])

HELD AT: [Address of Meeting] DATE: [Date of Meeting] TIME: [Time of Meeting]

WHEREAS, the Board of Directors/Managers (the “Board”) of [COMPANY NAME] (the “Company”) has determined it is in the best interest of the Company to establish a business banking relationship;

NOW, THEREFORE, BE IT RESOLVED:

1. APPOINTMENT OF BANK: That the Company is authorized to open one or more bank accounts (the “Account(s)”) with [Name of Banking Institution] (the “Bank”).
2. AUTHORIZED SIGNATORIES: That the following individuals (the “Authorized Signatories”) are hereby authorized to sign, execute, and deliver any and all documents required by the Bank, and to perform all acts necessary to effectuate the operation of the Accounts:
   • Name: [Full Legal Name], Title: [Title]
   • Name: [Full Legal Name], Title: [Title]
3. SCOPE OF AUTHORITY: The Authorized Signatories are empowered to: (a) deposit funds, (b) withdraw funds, (c) sign checks and drafts, (d) endorse negotiable instruments, (e) enter into electronic funds transfer agreements, (f) access online banking portals, and (g) borrow money or establish credit lines on behalf of the Company, subject to a limit of [Insert Dollar Amount] per transaction.
4. CONTINUING RESOLUTION: This resolution shall remain in full force and effect until express written notice of its rescission or modification is received by the Bank, signed by a duly authorized officer of the Company.
5. CERTIFICATION: The Corporate Secretary is authorized to certify this resolution and provide specimen signatures of the Authorized Signatories to the Bank as required.

EXECUTION AND SIGNATURES

CERTIFIED BY:

I, [Name of Secretary/Director], being the [Title, e.g., Corporate Secretary] of [Company Name], hereby certify that the foregoing is a true and correct copy of the resolution adopted by the Board of Directors at a meeting duly convened on the date first written above.

Signature: __________________________ Printed Name: [Full Legal Name] Date: [Date]

ATTESTED BY:

Signature: __________________________ Printed Name: [Full Legal Name] Title: [Title, e.g., CEO/President] Date: [Date]

STEP-BY-STEP EXECUTION GUIDE

1. Drafting: Fill all bracketed fields with exact legal data. Ensure the "Authorized Signatories" list matches the names provided on your Company’s formation documents (Articles of Incorporation/Organization).
2. Meeting/Consents: If a live meeting is not held, append this resolution to a "Unanimous Written Consent in Lieu of Meeting" signed by all board members.
3. Certification: The Secretary or an officer other than the primary user of the account should sign the certification block to establish a clear chain of custody and internal control.
4. Corporate Seal: If your jurisdiction or company bylaws require the use of a corporate seal, impress it physically over the signature block.
5. Bank Submission: Provide the Bank with a certified copy. Most financial institutions require an original "wet" signature or a notarized copy.
6. Record Retention: File the original resolution in the Company’s Corporate Minute Book. Digital scans must be encrypted and stored in your secure administrative records.