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Non Profit Resolution To Open Bank Account
"I need a Non-Profit Resolution To Open Bank Account for our new environmental charity, authorizing three board members as signatories with dual signature requirements for transactions over $5,000, including provisions for online banking access."
1. Header: Organization name, document type (Resolution), and date of the resolution
2. Present at Meeting: List of board members/trustees present at the meeting where the resolution is passed
3. Quorum Statement: Confirmation that a quorum was present as per the organization's governing documents
4. Background: Brief context explaining the need for opening a bank account
5. Resolution Statement: The formal decision to open a bank account, including the bank name and type of account
6. Authorized Signatories: Names and positions of individuals authorized to operate the account
7. Signing Requirements: Requirements for transaction authorization (e.g., two signatures required for transactions over a certain amount)
8. Certification: Statement certifying that the resolution was properly passed according to the organization's rules
9. Signatures: Space for required signatures (typically Chair/President and Secretary)
1. Online Banking Authorization: Additional authorization for internet banking services, used when the organization wants to enable online banking
2. Credit Card Authorization: Authorization for obtaining organizational credit cards, included when the organization requires credit card facilities
3. Foreign Currency Accounts: Authorization for opening foreign currency accounts, needed if the organization deals with international transactions
4. Specific Transaction Limits: Detailed breakdown of transaction limits for different types of transactions, used for more complex banking arrangements
5. Additional Services: Authorization for specific banking services like merchant facilities or payment processing, included when these services are required
1. Schedule 1 - Authorized Signatories Details: Detailed information about each authorized signatory including full name, position, contact details, and specimen signature
2. Schedule 2 - Transaction Limits Matrix: Detailed matrix showing transaction limits and required authorizations for different types and values of transactions
3. Appendix A - Identification Documents: List of required identification documents for each authorized signatory to comply with AML requirements
4. Appendix B - Organization Documentation: Copies of relevant organization documents such as incorporation certificate, rules, or constitution that verify the authority to pass this resolution
Authors
Non-Profit/Charity
Education
Healthcare
Social Services
Environmental Conservation
Arts and Culture
Religious Organizations
Community Development
Sports and Recreation
Research and Development
Humanitarian Aid
Animal Welfare
Board of Directors
Executive Leadership
Finance
Legal
Administration
Compliance
Operations
Governance
Treasury
Risk Management
Board Member
Trustee
Executive Director
Chief Executive Officer
Secretary
Treasurer
Financial Controller
Compliance Officer
Operations Manager
Administrative Manager
Board Chair
President
Vice President
Finance Manager
Legal Counsel
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