Business Operations

Template: Corporate Resolution for Opening Bank Accounts

What is a corporate banking resolution document? At the first meeting of the members, for an LLC, or the Board of Directors, for a corporation, establishing a company, a resolution about banking details is often included. You’ll need a Corporate Resolution for Opening Bank Account Template to get started.

The banking resolution can be agreed upon at any meeting after the first meeting, or altered, as directed, by the members or the Board of Directors.

There will be several resolutions during the first meeting, but the banking resolution is often the most necessary resolution from the general minutes of the meeting. Banks will require this document to open up a bank account.

The Corporate Resolution for Opening Bank Account Template document will often specify who may sign checks, borrow money or make banking decisions. The members, or the Board, and the corporate secretary sign off on any changes made to this document going forward.

Although most people have their banking resolutions prepared before going to the bank, some banks require you to fill out their standard form. Each bank will be different in this respect. If you apply for a loan, the bank will keep the banking resolutions on file along with the…