Free Corporate Banking Resolution
A legal document that outlines where the business funds will be held, as well as who has the authority to access and use the account(s).
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You have a newly formed corporation and now you need a plan for your company’s banking procedures. Do you know which financial institution you want to establish accounts with? Do you know which individuals associated with the company will have the authority to act on the corporation’s behalf for banking purposes? If the answer to both of those is yes, your next step will be to create a Corporate Banking Resolution.
Using the Corporate Banking Resolution clarifies the banking procedures of your company and grants authority to specific individuals to maintain accounts. In addition to its function as an internal company document, it’s also used to represent to the chosen bank that the decision to establish an account and the authorization given to the specified signatories are the official actions of the corporation.