Board Resolution Format for Bank Account Closure

BOARD RESOLUTION: AUTHORIZATION FOR CLOSURE OF CORPORATE BANK ACCOUNT

Document ID: BR-BANK-CLOSE-202X-[REF-ID] Effective Date: [Date] Version: 1.0 Governing Jurisdiction: [State/Country of Incorporation]

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STATUTORY & LEGAL COMPLIANCE NOTICE

This document is a template provided for informational purposes as a baseline for corporate governance. It does not constitute specific legal advice. The user is responsible for ensuring compliance with local banking regulations, the Company’s Bylaws, and the Articles of Incorporation. Consult with outside counsel to verify that the signatory authority aligns with the Company's current Delegation of Authority (DOA) matrix.

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1. PARTIES & RECITALS

Company: [Company Full Legal Name], a [Type of Entity, e.g., Delaware Corporation] having its principal executive office at [Principal Address] (the "Company").

WHEREAS, the Board of Directors (the "Board") of the Company has reviewed the operational requirements and banking strategy of the Company;

WHEREAS, the Board has determined that it is in the best interests of the Company to close the account(s) held at [Bank Name] (the "Financial Institution"), specifically account number(s) ending in [Last 4 Digits of Account Number] (the "Subject Account").

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2. OPERATIVE RESOLUTIONS

RESOLVED, that the closure of the Subject Account held with the Financial Institution is hereby authorized and approved;

FURTHER RESOLVED, that any one of the following officers or directors of the Company (each, an "Authorized Representative"):

1. [Name of Signatory 1], [Title]
2. [Name of Signatory 2], [Title] are hereby severally authorized, empowered, and directed, for and on behalf of the Company, to execute, deliver, and file any and all documents, forms, letters of instruction, or other instruments as may be required by the Financial Institution to effectuate the closing of the Subject Account;

FURTHER RESOLVED, that the Authorized Representatives are empowered to provide instructions regarding the transfer or disbursement of any remaining funds (the "Remaining Balance") from the Subject Account to another corporate account held by the Company, specifically [Beneficiary Account Name/Number/Routing], or via check as deemed appropriate;

FURTHER RESOLVED, that the Financial Institution may rely upon this Resolution until such time as it receives written notice of its amendment or rescission by the Board;

FURTHER RESOLVED, that all actions previously taken by any officer or director of the Company in connection with the intent to close said account are hereby ratified, confirmed, and approved in all respects.

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3. GENERAL PROVISIONS

Confidentiality: The contents of this Resolution are confidential and shall not be disclosed to any third party other than the Financial Institution or legal counsel without prior Board approval.

Severability: If any provision of this Resolution is held to be invalid or unenforceable, such provision shall be severed, and the remaining provisions shall continue in full force and effect.

Governing Law: This Resolution shall be governed by and construed in accordance with the laws of [Governing Jurisdiction], without regard to conflict of laws principles.

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4. EXECUTION & SIGNATURE BLOCKS

IN WITNESS WHEREOF, the undersigned, being the Secretary/Assistant Secretary of the Company, hereby certifies that the foregoing is a true and correct copy of the resolution duly adopted by the Board of Directors on [Date], and that said resolution has not been amended, rescinded, or revoked.

FOR [COMPANY FULL LEGAL NAME]:

Signature: _____________________________________ Printed Name: [Authorized Signatory Name] Title: [Secretary / Assistant Secretary] Company: [Company Legal Name] Date: [Date]

(Corporate Seal, if applicable)

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5. STEP-BY-STEP EXECUTION & FILING GUIDE

1. Verification of Authority: Before finalizing, verify that the individuals listed in the "Authorized Representatives" section match the current signature card on file with the bank. If a change is required, attach an updated Incumbency Certificate.
2. Drafting: Copy the text into your corporate template. Replace all [Bracketed Text] with accurate legal details. Ensure no brackets remain.
3. Execution:
   • Print the document on corporate letterhead.
   • The Secretary or Assistant Secretary must sign the document. If the bank requires Board consensus, have a majority of the Board members sign an "Action by Unanimous Written Consent" in lieu of a meeting.
4. Digital Signature: If using DocuSign or Adobe Sign, ensure the "Audit Trail" is enabled to maintain the integrity of the timestamp and IP address of the signer.
5. Bank Submission: Submit the original signed hard copy or a certified digital PDF directly to the Bank’s Relationship Manager or via their secure business portal.
6. Record Retention: Store a high-resolution scanned copy in the Company’s "Corporate Minute Book" or secure digital repository (e.g., Diligent, Box, or SharePoint) for a minimum of seven (7) years per standard document retention policies.