Signature card & resolutions | For Bankers. From Bankers

Skip to content

BOL Conferences

BankersOnline.com Forums Banker Forums General Discussion Signature card & resolutions

Thread Options

Tools

#276789 - 11/18/04 07:46 PM Signature card & resolutions
J PENNEY New Poster Joined: Nov 2004 Posts: 3 KY	Does your bank require "authorized signers" on a business account to sign both the signature card and the resolution? Last edited by J PENNEY; 11/18/04 07:49 PM.
Return to Top

General Discussion

#276790 - 11/18/04 07:59 PM Re: Signature card & resolutions
rlcarey 10K Club Joined: Jul 2001 Posts: 85,362 Galveston, TX	The resolution should be signed by the appropriate officers/partners as outlined in the organization's governance documents. It may or may not be the same people that will be authorized signers on the account. _________________________ The opinions expressed here should not be construed to be those of my employer: PPDocs.com
Return to Top

#276791 - 11/19/04 12:03 AM Re: Signature card & resolutions
NeverEndingSupport 100 Club Joined: Jan 2004 Posts: 210 Alaska	We require signature on both the resolution and signature card. We use Bankers Systems Inc documents.
Return to Top

#276792 - 11/19/04 12:52 PM Re: Signature card & resolutions
AlwaysLearning Member Joined: Aug 2004 Posts: 83	We also require authorized signers to sign both the resolution and signature card.
Return to Top

#276793 - 11/19/04 02:22 PM Re: Signature card & resolutions
rlcarey 10K Club Joined: Jul 2001 Posts: 85,362 Galveston, TX	The resolution for what???? I own a corporation with two other people and you are going to make our secretary, who we want as an authorized signer, sign a corporate resolution when she has no powers under the Article of Corporation or By-Laws. Now, if you are talking about providing a signature specimen, that is a whole different animal from the signing of the corporate resolution. Lets get our terminology straight here. _________________________ The opinions expressed here should not be construed to be those of my employer: PPDocs.com
Return to Top

#276794 - 11/19/04 02:26 PM Re: Signature card & resolutions
Wore Out Platinum Poster Joined: Dec 2003 Posts: 543 Kentucky	We only have the authorized signer on the signature card...I mean isn't that what the card is for? Listing the designees for signing ability? The only case I can see having the authorized signer on the resolution (besides when they are a principal of the business) is if you are going to limit the types of transactions they can perform (i.e. deposits only, no stop payments, etc.) _________________________ Not even close to being legal advice....I have a bridge for sale too!
Return to Top

#276795 - 11/19/04 03:50 PM Re: Signature card & resolutions
Greg Platinum Poster Joined: May 2004 Posts: 833 Michigan	Quote: I own a corporation with two other people and you are going to make our secretary, who we want as an authorized signer, sign a corporate resolution when she has no powers under the Article of Corporation or By-Laws. The documents we use have a place on the corporate resolution for a specimen signature. We require the signature on the resolution form as well as the signature card because our resolution form references "the signatures affixed in section xx above." If the resolution didn't reference the signatures there would be no reason to require them. _________________________ If you approach life with pure logic you can avoid almost all of the fun.
Return to Top

#276796 - 11/19/04 03:51 PM Re: Signature card & resolutions
John Burnett 10K Club Joined: Oct 2000 Posts: 40,086 Cape Cod	Quote: The resolution for what???? I own a corporation with two other people and you are going to make our secretary, who we want as an authorized signer, sign a corporate resolution when she has no powers under the Article of Corporation or By-Laws. Now, if you are talking about providing a signature specimen, that is a whole different animal from the signing of the corporate resolution. Lets get our terminology straight here. The bank needs to know that the persons who will sign on the account are authorized by the corporation to act as its agents. The mere fact that someone is an officer of a corporation (or an owner) does not equate with having authority to open or maintain an account in the corporation's name. The corporate resolution form is a statement signed by the corporate clerk or secretary (depending on your state's norms) attesting to the fact that a resolution of the corporate board approved the opening of the account and authorized specific persons to act as its agents in doing so. Usually, if the secretary/clerk will be one of the persons acting on the account, the resolution is attested to by an additional officer of the corporation. In some such attestations, there is a place for the clerk/secretary to attest to the validity of the signatures of the agents. The signatures on the separate signature card/sheet create the contract between the corporation and the bank for the account, and provide signatures for verification of checks or other documents signed in the operation of the account. _________________________ John S. Burnett BankersOnline.com Fighting for Compliance since 1976 Bankers' Threads User #8
Return to Top

Previous Thread

Previous Thread

View All Threads

Next Thread

Hop To

Moderator: Andy_Z, Lucy Griffin, Mary Beth Guard