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CORPORATE AUTHORIZATION RESOLUTION - First Internet Bank 2025

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The document is a Corporate Authorization Resolution from First Internet Bank of Indiana, certifying the authority of specified agents to act on behalf of a corporation. It outlines the powers granted to these agents, including opening accounts, endorsing checks, borrowing money, and executing contracts. The resolution also establishes that it supersedes any previous resolutions and remains effective until formally rescinded or modified.

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How to write a board resolution to a bank?

When you create a resolution to open a bank account, you need to include the following information: The legal name of the corporation. The name of the bank where the account will be created. The state where the business is formed. Information about the directors/members.

What is a company resolution for 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 corporate resolution for a bank account?

A corporate resolution to open a business bank account is a document that clearly shows the bank who has the authority to start an account on behalf of your corporation. If this information isnt specifically covered in your Articles of Incorporation or bylaws, your bank may require a resolution.

What is an authorizing resolution for a corporation?

Corporate signing authority resolutions specify who has the legal authority to bind the corporation through contracts. Individuals with the authority to sign can create legally binding contracts such as employment contracts, real estate transactions, and other important agreements.

What does resolution mean in banking?

Resolution is a way to manage the failure of a bank, building society, or central counterparty. We use it to minimise the impact on depositors, the financial system and public finances.

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What is the purpose of a corporate resolution?

A corporate resolution documents the actions the board of directors makes. This written document helps improve honesty, transparency, and ensures that the board of directors acts in the corporations best interest by giving the shareholders insight into the boards decisions.

What is a corporate resolution for a bank?

A banking resolution template is a pre-designed document that outlines the key information required to authorize individuals to handle banking matters for your business. It typically includes details about the individuals being granted authority, their specific roles, and the boards approval of the resolution.

Where do I get a banking resolution?

Board members of a corporation usually draft a banking resolution at their first board meeting. A Limited liability company (LLC) should also have a banking resolution. This simplifies the process of opening a bank account. Banks often require banking resolutions from companies.

CORPORATE AUTHORIZATION RESOLUTION - First Internet Bank 2025

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