Easy to Use Legal Templates
Quickly and easily create any legal agreement for you or your team.
Straightforward pricing plans and bespoke packages built to simplify all your legal demands.
Vast Document Library
Zegal’s comprehensive collection of agreements means you always have what you need at your fingertips.
How to create a Directors’ Resolution for Bank Account Opening
What is a Directors’ Resolution for Bank Account Opening Template?
A Directors’ Resolution for Bank Account Opening is a formal document in which the board of directors of a corporation authorise the opening of a new bank account.Create Now
Why choose Zegal?
With Zegal, you can reduce legal risks and improve the efficiency of your contract workflow, allowing you to focus on your core business operations.
Our platform is flexible, scalable, and tailored to the needs of your business.
Directors’ Resolution for Bank Account Opening FAQs
Banks often require a Directors’ Resolution for Bank Account Opening as proof that the company’s board of directors has approved the opening of the bank account.
What to include in a Directors’ Resolution for Bank Account Opening
- Introduction: This section generally outlines the need for a new bank account and the resolution to open it.
- Details of the Bank Account: This can include the name and location of the bank where the account will be opened, the type of account (business checking, savings, etc.), and any other pertinent details.
- Authorised Signatories: The resolution typically identifies the individuals who will be authorised to sign checks, withdraw funds, and generally manage the account on behalf of the company. This could be the company’s CEO, CFO, or any other designated officer.
- Approval: The resolution itself is the formal approval by the board of directors to open the bank account and designate the authorised signatories.
- Signatures: The resolution is signed by the directors to indicate their unanimous approval.
- Date: The date when the resolution was made and approved.
Do I need a Directors’ Resolution for Bank Account Opening?
This type of resolution helps to ensure that the company’s financial activities are transparent and authorised by its board of directors.
The exact requirements for a Directors’ Resolution for Bank Account Opening can vary depending on the jurisdiction and the bank’s specific requirements.
There are two options when using a Directors’ Resolution for Bank Account Opening:
- If a meeting of the board of directors to pass this resolution is chosen, it is necessary to record the minutes of this meeting and therefore a Board Minutes for Bank Account Opening is required; or
- If the board resolution can be passed by way of a written resolution, a Board Resolution for Bank Account Opening may be used.
The Zegal template library
Zegal's legal template library is a list of essential business documents for your everyday needs.
Using Zegal will reduce risk, save money, and improve efficiency. Let us take care of the paperwork so you can focus on running your business.
If you're creating a Directors’ Resolution for Bank Account Opening, you may also be interested in the following documents:
Choose from 1000+ legal templates and draft contracts with ease and confidence.
Contract and document management made easy.