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#1385429 - 05/04/10 03:00 PM Wire transfer agreements
Southern gal Offline
Platinum Poster
Joined: Mar 2008
Posts: 504
TN
I'm in middle of a wire transfer audit, the wire agreements with two of the correspondent the bank sends wires to are dated June and July 08 which includes resolutions signed by a former employee who was the BOD secretary at the time. All parties listed on these agreements are still currently employed and still authorized to either send wires or verify wires sent. My question is should new resolutions be executed and signed by the current board secretary?

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#1404249 - 06/16/10 01:40 PM Re: Wire transfer agreements Southern gal
pklarson Offline
New Poster
Joined: Jun 2010
Posts: 3
These agreements only need to be changed if individuals authorized to transact on behalf of the bank have changed. Otherwise, it is still a valid document that was signed by an authorized bank representative at the time of execution.

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