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#1440786 - 09/09/10 04:43 PM Corporate Resolutions
Linda Allen Offline
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Joined: Jun 2010
Posts: 19
When we revise a business account and update the corporate resolution with the new signers should we be putting the date of the previous resolution in the section which states: "This resolution supersedes resolution dated __________. If not completed, all resolutions remain in effect." I was told at one time not to put a date in this field. Which way is correct?

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#1440804 - 09/09/10 05:05 PM Re: Corporate Resolutions Linda Allen
Doug Hendrickson Offline
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Doug Hendrickson
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If the corporate resolution lists ONLY new signers (in addition to any existing ones), then I would NOT fill in the date. However, if the resolution is meant to REPLACE all existing signers with the signers on the resolution, then I would put a date on it, so that it is clear that this new signer list supercedes all existing ones.
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#1440814 - 09/09/10 05:12 PM Re: Corporate Resolutions Doug Hendrickson
Elwood P. Dowd Offline
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Elwood P. Dowd
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Next to Harvey
Agreed; there is not a "pat" answer.

Regardless, the world is an easier place to live in if you only have one current resolution for each entity. In other words, this resolution includes all current signatories and automatically revokes all prior resolutions. Otherwise you may find yourself going through a stack of forms and saying, "Okay, she was put on in '92, when was she taken off..."
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#1440821 - 09/09/10 05:20 PM Re: Corporate Resolutions Elwood P. Dowd
Doug Hendrickson Offline
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Doug Hendrickson
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Agreed.
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I hear and I forget. I see and I remember. I do and I understand.--Confucius

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#1440936 - 09/09/10 06:58 PM Re: Corporate Resolutions Doug Hendrickson
Linda Allen Offline
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Joined: Jun 2010
Posts: 19
Thank you...

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#1441274 - 09/10/10 02:54 PM Re: Corporate Resolutions Linda Allen
BlueEyes Offline
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Joined: Jan 2004
Posts: 28
LA
When we revise signers on a business account, we have "all" authorized signers sign the signature card and the resolution, new and existing. So we do insert the date. It does supercede the previous resolution. From the posts above, am I to understand that some banks "do not require "all" (new & existing) signers to sign on the new resolutions?

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#1441290 - 09/10/10 03:06 PM Re: Corporate Resolutions BlueEyes
Elwood P. Dowd Offline
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Elwood P. Dowd
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Next to Harvey
Yes.
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In this world you must be oh so smart or oh so pleasant. Well, for years I was smart. I recommend pleasant.

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#1441291 - 09/10/10 03:06 PM Re: Corporate Resolutions BlueEyes
Its Just Me Offline
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Joined: Jan 2010
Posts: 73
Midwest
We also require all authorized signers to sign the signature card and resolution when we revise signers on a business account. It seems like it would be difficult to figure out who the signers are if you had to look at multiple resolutions to figure it out.

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#1441348 - 09/10/10 03:56 PM Re: Corporate Resolutions BlueEyes
M Cockrell Offline
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M Cockrell
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Dallas, TX
We, like you, have always done "replacement" signature contracts and resolutions; never "addendum" doc's.
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#1446115 - 09/21/10 07:27 PM Re: Corporate Resolutions M Cockrell
Lilly C Offline
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Lilly C
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Sunny Florida
Same here, we replace the new signature card and the new resolution and date both. It's also easier to identify when you are looking up the scanned images of these documents if they have a date ou can clearly identify on them.

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