Business Accounts: Is a resolution required for account signers?
by Dani McClellan, Technical Product Manager, Financial Solutions
Question: On a business entity...If we have a signer on the signature card that is not an owner or officer of the business entity, and no other authority is to be given to that signer, except to sign checks, do they need to sign the business resolution?
Answer: "There are no official guidelines that pertain to this issue. Every bank can handle this to meet their needs. However, it would be a good practice to make sure anyone who has access to funds in a business account is listed in the corporate resolution, as well as on the signature card. But, before you make any changes, we suggest you consult your compliance officer on this
subject and determine what course of action is in the best interest of your institution."
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Headquartered in Herndon, Virginia, in the Washington, D.C. technology corridor, the privately held company was named as one of the top five imaging vendors in the Independent Community Banking Association's (ICBA) 2002 industry survey. To find out how TREEV's proven solutions deliver real results, please contact TREEV at:
TREEV LLC
13454 Sunrise Valley Drive, Floor 4
Herndon, VA 20171
Tel: 800.254.0994 or 703.478.2260
Fax: 703.481.6920
E-mail: info@treev.com
Web: http://www.treev.com
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