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Click ‘Get Form’ to open it in the editor.
Begin by entering the Corporation Name at the top of the form. This identifies your nonprofit organization.
In the WHEREAS section, specify the name of the Bank where you wish to establish a banking resolution.
Next, designate the Vice President of Finance by filling in their name. This person will have authority over banking transactions.
Identify any officers or employees authorized to withdraw funds from the account. Ensure their names are clearly written in the designated area.
Have one Director and any other authorized signatories provide their signatures at the bottom of the form, along with their designations.
Finally, date the document appropriately to validate it.

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How to write a resolution for opening a bank account?

RESOLVED THAT a Current Account in the name of the Company be opened with Bank, , for the operations of the activities of the Company and the said Bank be and is hereby authorized to honour all cheques, drafts, bills of exchange, promissory notes and other negotiable instrument, signed drawn

What is a nonprofit resolution to open a bank account?

Simply put, a banking resolution is a formal authorization to open a corporate bank account, whether for profit or nonprofit. This document identifies any member of the nonprofit with permissions to perform transactions and account procedures while outlining what role and privileges are granted to these individuals.

What is a resolution to activate a bank account?

What Is a Nonprofit Board Resolution? A board resolution is essentially a written legal record of a decision that was made by the board. Resolutions allow the board to document their important decisions so that they are easy to access and refer back to if needed.

What is needed to open a bank account for a nonprofit?

What Are the Components of a Nonprofit Board Resolution Template? The board meeting date. The number of the resolution. A title of the resolution. The resolution itself (what is being voted on) The name and vote of each voting member of the board. The Chairpersons name and signature.

resolution to open bank account for non profit pdf

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