Corporate Resolution — Bank Account Authorization
Produces a board-level governance document that satisfies both internal corporate formality and bank due diligence for account opening, maintenance, and transaction authority.
Required Inputs
- Corporation legal name — must match articles of incorporation exactly
- State of incorporation
- Adoption method — board meeting or written consent of directors
- Financial institution(s) — named institution or class (e.g., "any FDIC-insured institution")
- Authorized signatories — names, titles, tiered authority thresholds
- Scope — account types, transaction types, borrowing authority (yes/no), dollar limits
- Prior resolutions — to supersede, if any
- Bylaws — provisions on banking authority and consent requirements
Quick Start
- Collect all required inputs above.
- Confirm bylaw authorization for board delegation of banking authority.
- Confirm adoption-method validity under applicable state law.
- Draft resolution sections in order: Header → Operative Resolutions → Certification.
- Verify legal name, signatory tiers, and dollar thresholds before finalizing.
Output Structure
1. Header & Recitals
| Field |
Content |
| Title |
RESOLUTIONS OF THE BOARD OF DIRECTORS OF [CORP NAME] |
| Date |
Adoption date |
| Method |
Board meeting (quorum + notice) OR written consent (check state unanimity requirement) |
| Bylaw reference |
Cite specific provision authorizing banking resolutions |
| Purpose |
Brief operational need (payments, payroll, receivables, etc.) |
2. Operative Resolutions
Draft each as a separate RESOLVED clause:
- Account Authority — Authorize named officers to open, maintain, modify, and close specified account types (checking, savings, money market, CD, other) at designated institution(s).
- Signatory Designation — Tiered structure:
- Single signature: transactions up to $[threshold]
- Dual signature: transactions exceeding $[threshold]
- Covers: checks, wires, ACH, online banking, bank-required forms
- Transaction Scope — Deposits, withdrawals, standard transactions. If borrowing: specify dollar cap, permitted obligation types, whether collateral pledges need separate approval.
- Document Execution — Officers may execute all bank-required documents, signature cards, and agreements without further board action for routine forms.
- Ratification — Ratify prior banking acts if accounts/transactions predate formal authorization.
- Supersession — Supersedes all prior banking-authority resolutions, effective [date].
- Continuing Authority — Remains in effect until amended/revoked by board action. Corporation must notify institution of changes. Optionally: auto-terminate on signatory separation.
3. Secretary Certification
Must certify:
- Resolutions were duly adopted on [date] per bylaws and state law
- Resolutions have not been amended, modified, or revoked
- Resolutions remain in full force and effect
Include: printed name, title (Secretary/Assistant Secretary), date, corporate seal if required.
Pitfalls & Checks
- Name mismatch — Corporation name must match articles exactly; most common cause of bank rejection
- Bylaw gap — If bylaws don't authorize banking delegation, amend bylaws first
- Consent threshold — Most states require unanimous written consent unless bylaws provide otherwise; verify state statute
- Quorum — For meeting adoption, confirm quorum present throughout; document in minutes
- Borrowing caps — Always specify dollar limits; unlimited borrowing authority creates fiduciary exposure
- Signatory changes — Banks typically require re-certification of the resolution (not just new signature cards) when officers change
- Stale certification — Banks often require certification dated within 30–90 days; flag for recurring use
- State law — Procedural validity governed by state corporate code (e.g., Delaware § 141, California Corp. Code § 307) — verify applicable statute for client's jurisdiction
1---2name: corporate-resolution-bank-account3description: Drafts a board resolution authorizing the opening and management of corporate bank accounts, including signatory designation, account types, borrowing authority, and secretary certification. Triggers when a financial institution requires formal board authorization to establish or manage accounts, when updating authorized signatories, or when documenting banking authority during entity formation or reorganization.4tags:5 - corporate6 - drafting7---89# Corporate Resolution — Bank Account Authorization1011Produces a board-level governance document that satisfies both internal corporate formality and bank due diligence for account opening, maintenance, and transaction authority.1213## Required Inputs14151. **Corporation legal name** — must match articles of incorporation exactly162. **State of incorporation**173. **Adoption method** — board meeting or written consent of directors184. **Financial institution(s)** — named institution or class (e.g., "any FDIC-insured institution")195. **Authorized signatories** — names, titles, tiered authority thresholds206. **Scope** — account types, transaction types, borrowing authority (yes/no), dollar limits217. **Prior resolutions** — to supersede, if any228. **Bylaws** — provisions on banking authority and consent requirements2324## Quick Start25261. Collect all required inputs above.272. Confirm bylaw authorization for board delegation of banking authority.283. Confirm adoption-method validity under applicable state law.294. Draft resolution sections in order: Header → Operative Resolutions → Certification.305. Verify legal name, signatory tiers, and dollar thresholds before finalizing.3132## Output Structure3334### 1. Header & Recitals3536| Field | Content |37|---|---|38| Title | RESOLUTIONS OF THE BOARD OF DIRECTORS OF [CORP NAME] |39| Date | Adoption date |40| Method | Board meeting (quorum + notice) OR written consent (check state unanimity requirement) |41| Bylaw reference | Cite specific provision authorizing banking resolutions |42| Purpose | Brief operational need (payments, payroll, receivables, etc.) |4344### 2. Operative Resolutions4546Draft each as a separate RESOLVED clause:4748- **Account Authority** — Authorize named officers to open, maintain, modify, and close specified account types (checking, savings, money market, CD, other) at designated institution(s).49- **Signatory Designation** — Tiered structure:50 - Single signature: transactions up to $[threshold]51 - Dual signature: transactions exceeding $[threshold]52 - Covers: checks, wires, ACH, online banking, bank-required forms53- **Transaction Scope** — Deposits, withdrawals, standard transactions. If borrowing: specify dollar cap, permitted obligation types, whether collateral pledges need separate approval.54- **Document Execution** — Officers may execute all bank-required documents, signature cards, and agreements without further board action for routine forms.55- **Ratification** — Ratify prior banking acts if accounts/transactions predate formal authorization.56- **Supersession** — Supersedes all prior banking-authority resolutions, effective [date].57- **Continuing Authority** — Remains in effect until amended/revoked by board action. Corporation must notify institution of changes. Optionally: auto-terminate on signatory separation.5859### 3. Secretary Certification6061Must certify:621. Resolutions were duly adopted on [date] per bylaws and state law632. Resolutions have not been amended, modified, or revoked643. Resolutions remain in full force and effect6566Include: printed name, title (Secretary/Assistant Secretary), date, corporate seal if required.6768## Pitfalls & Checks6970- **Name mismatch** — Corporation name must match articles exactly; most common cause of bank rejection71- **Bylaw gap** — If bylaws don't authorize banking delegation, amend bylaws first72- **Consent threshold** — Most states require unanimous written consent unless bylaws provide otherwise; verify state statute73- **Quorum** — For meeting adoption, confirm quorum present throughout; document in minutes74- **Borrowing caps** — Always specify dollar limits; unlimited borrowing authority creates fiduciary exposure75- **Signatory changes** — Banks typically require re-certification of the resolution (not just new signature cards) when officers change76- **Stale certification** — Banks often require certification dated within 30–90 days; flag for recurring use77- **State law** — Procedural validity governed by state corporate code (e.g., Delaware § 141, California Corp. Code § 307) — verify applicable statute for client's jurisdiction