Board Resolution Format for Change in Authorised Signatory in Bank

CERTIFIED EXTRACT FROM THE MINUTES OF THE BOARD OF DIRECTORS MEETING

Document ID: CORP-RES-BANK-001
Effective Date: [Date of Meeting]
Version: 1.0
Governing Jurisdiction: [Jurisdiction/State/Country]

LEGAL COMPLIANCE NOTICE

This document serves as a formal template for corporate governance. It is intended for use by qualified corporate officers. The user acknowledges that banking institutions often require specific internal forms or notarized affidavits in addition to this Board Resolution. Users are advised to consult with local counsel to ensure compliance with the entity’s Articles of Incorporation, Bylaws, and the specific requirements of the banking institution’s "Know Your Customer" (KYC) and Anti-Money Laundering (AML) protocols.

1. RECITALS

WHEREAS, [Company Full Legal Name] (the "Company") maintains active commercial banking relationships with [Name of Bank] (the "Bank");

WHEREAS, the Board of Directors (the "Board") of the Company has determined that it is in the best interests of the Company to update the list of authorized signatories empowered to execute documents and operate bank accounts on behalf of the Company;

NOW, THEREFORE, BE IT RESOLVED, that the Board hereby authorizes the changes to the banking mandates as set forth in the following operative clauses.

2. OPERATIVE RESOLUTIONS

Section 1: Revocation of Previous Authority The Board hereby rescinds and revokes, effective as of [Effective Date], all prior authorizations granted to any individuals previously empowered to act as signatories for the Company’s accounts held at the Bank, specifically removing [Name of Outgoing Signatory] from all signature mandates.

Section 2: Appointment of New Authorized Signatory The Board hereby appoints [Name of New Signatory], holding the title of [Title/Role], to act as an authorized signatory for the Company. The Bank is hereby authorized and directed to accept and rely upon any documents, checks, wires, or instructions signed or authenticated by the aforementioned individual, provided such actions are consistent with the Company’s Bylaws.

Section 3: Scope of Authority The Authorized Signatory is empowered to: (a) open, maintain, and close bank accounts; (b) execute promissory notes, security agreements, and credit facility documents; (c) initiate electronic funds transfers, wire transfers, and ACH transactions; and (d) perform all acts necessary to effectuate the banking relationship up to a transaction limit of [Amount in USD].

Section 4: Specimen Signatures The specimen signature provided below is certified to be the genuine signature of the newly appointed Authorized Signatory. The Bank is authorized to honor any instruments signed by the individual notwithstanding any change in their office or employment status, until the Bank receives written notice of revocation from the Company.

Section 5: Certification The Secretary of the Company is authorized to certify these resolutions and to deliver a copy to the Bank, and such certification shall be binding upon the Company until formally rescinded by a subsequent resolution of the Board of Directors.

3. SPECIMEN SIGNATURE

Name of New Authorized Signatory: ___________________________
Specimen Signature: _______________________________________
Title: ___________________________

4. EXECUTION & FORMAL SIGNATURE BLOCKS

FOR [COMPANY FULL LEGAL NAME]:

The undersigned, being the [Secretary/Chairperson] of [Company Full Legal Name], hereby certifies that the foregoing is a true and correct copy of the resolution adopted by the Board of Directors at a meeting held on [Date], at which a quorum was present and voting.

Signature: _____________________________________
Printed Name: [Authorized Signatory Name]
Title: [Secretary / Chairperson]
Date: [Date]

5. STEP-BY-STEP EXECUTION & FILING GUIDE

1. Preparation: Open this document in your word processor. Replace all bracketed text [ ] with precise legal data. Ensure the "Amount in USD" reflects your company's internal authorization thresholds.
2. Verification: Cross-reference the "Name of New Authorized Signatory" against the company’s Certificate of Incumbency to ensure consistency.
3. Digital Signature: Upload the final document to a platform like DocuSign or Adobe Sign. Use the "Add Signature" field for the Secretary/Chairperson. Ensure the Audit Trail/Certificate of Completion is downloaded alongside the signed document.
4. Bank Submission: Deliver the signed resolution to the Bank’s Relationship Manager. Most banks require this to be printed on Company Letterhead.
5. Record Retention: File the signed original in the Corporate Minute Book. Maintain a digital backup in a secure, encrypted "Governance/Legal" folder.
6. Periodic Audit: Set a calendar reminder to review all authorized signatories annually to ensure the list remains current and redundant access is purged.