Board Resolution Format for Current Account Opening

BOARD RESOLUTION: AUTHORIZATION FOR OPENING AND OPERATING CORPORATE BANK ACCOUNTS

Document ID: CORP-BR-BANK-001
Effective Date: [Date]
Version: 1.0
Governing Jurisdiction: [Jurisdiction, e.g., State of Delaware / Republic of Singapore]

STATUTORY & LEGAL COMPLIANCE NOTICE

This document constitutes a formal record of corporate action. It is intended for use by the Board of Directors of [Company Full Legal Name]. Users are advised that banking institutions often require the use of their own standardized signature cards and corporate resolutions. This document should be reviewed by local legal counsel to ensure compliance with the company’s Articles of Incorporation, Bylaws, and the banking regulations of the governing jurisdiction.

1. PARTIES & RECITALS

Company: [Company Full Legal Name], a corporation duly organized and existing under the laws of [Jurisdiction of Incorporation], having its principal executive office at [Principal Address] (the "Company").

Recitals: WHEREAS, the Board of Directors (the "Board") of the Company has determined that it is in the best interests of the Company to establish a corporate current account for the purpose of facilitating business operations and financial transactions;

NOW, THEREFORE, IT IS RESOLVED, as follows:

2. OPERATIVE RESOLUTIONS

Section 1: Authorization to Open Account The Board hereby authorizes the opening of a corporate current account (the "Account") in the name of the Company with [Name of Banking Institution] (the "Bank"). Any one of the authorized signatories listed in Section 2 is hereby empowered to execute such applications, signature cards, and other documentation as the Bank may require to effectuate the opening and maintenance of the Account.

Section 2: Authorized Signatories The individuals listed below are designated as "Authorized Signatories" for the Account. The Bank is directed to honor and pay any checks, drafts, or other orders for the payment of money drawn in the Company’s name, including those payable to the individual order of any person whose name appears as a signatory:

• [Name of Signatory 1], [Title]
• [Name of Signatory 2], [Title]
• [Name of Signatory 3], [Title]

Section 3: Scope of Authority The Authorized Signatories are empowered to: (a) deposit funds, endorse checks, and negotiate instruments; (b) execute wire transfers and electronic fund transfers; (c) enter into agreements for online banking services; and (d) borrow funds or establish credit facilities on behalf of the Company, subject to a limit of [Amount in USD] without further Board approval.

Section 4: Revocation and Term This resolution shall remain in full force and effect until such time as a certified copy of a subsequent Board resolution revoking or modifying these powers is delivered to the Bank at its principal branch. The authority granted herein is binding upon the Company and its successors.

Section 5: Indemnification The Company agrees to indemnify and hold harmless the Bank from any claims, losses, or damages arising out of the Bank’s reliance on this resolution, provided the Bank acts in good faith and in accordance with its standard operating procedures.

Section 6: Miscellaneous 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. This resolution shall be governed by the laws of [Governing Jurisdiction].

3. EXECUTION & SIGNATURE BLOCKS

CERTIFICATION OF CORPORATE SECRETARY: I, the undersigned, Secretary of [Company Full Legal Name], hereby certify 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, and that said resolution has not been rescinded or amended.

FOR [COMPANY FULL LEGAL NAME]:

Signature: _____________________________________ Printed Name: [Secretary Name] Title: Secretary / Authorized Officer Company: [Company Full Legal Name] Date: [Date]

FOR [BANKING INSTITUTION - ACKNOWLEDGMENT]:

Signature: _____________________________________ Printed Name: [Bank Representative Name] Title: Relationship Manager Date: [Date]

4. STEP-BY-STEP EXECUTION & FILING GUIDE

1. Field Completion: Use "Find and Replace" in your word processor to populate all bracketed [...] fields. Ensure the [Amount in USD] represents the specific internal limit required for your corporate governance policies.
2. Verification of Authority: Before execution, verify that the Authorized Signatories listed in Section 2 possess current, valid government-issued identification, as the Bank will require these for KYC (Know Your Customer) compliance.
3. Digital Execution: If using DocuSign or Adobe Sign:
   • Set the signing order to ensure the Corporate Secretary signs first.
   • Include a "Request Attachment" field to capture copies of the signatories' IDs if required by the bank.
4. Minute Book Integration: Upon execution, place the original signed document in the Company’s Corporate Minute Book.
5. Bank Submission: Deliver a certified physical or digital copy to the Bank’s Relationship Manager. Always request a written acknowledgement of receipt from the Bank to ensure the resolution is active in their internal system.
6. Record Retention: Maintain this document for the life of the account plus seven (7) years to satisfy standard corporate auditing and tax record-retention mandates.