I need some clarification on business resolutions. Section three pertains to the signatories and how many signatures are required. Our compliance officer insists that each of the lines must be filled in, either with the corresponding letters or the letters n/a. If the signatories can exercise all powers then by filling in n/a on the other lines, are we not contradicting ourselves? Also, is it required at all to fill in n/a where it does not apply. My department is written up regularly for this.

I'm afraid I don't understand your question. Section three of what?

Section III - Any person named above is authorized to: The csr is to indicate A, B, C etc. 1) Open any deposit or checking account..... 2) Endorse or cause to be endorsed..... 3) Borrow money...... the last choice 6) is exercise all powers listed in 1 through 5. Normally we fill in lines 1 and 2. The compliance officer then wants us to fill in n/a on the rest of the lines.