A corporate authorization resolution is a formal legal document that records a decision made by a corporation's board of directors, designating specific individuals who have authority to conduct financial and business transactions on behalf of the company.
Financial institutions, lenders, and government agencies commonly require this document before allowing a corporate representative to open bank accounts, apply for loans, sign checks, or execute binding contracts. The resolution specifies the full scope of powers granted to each authorized agent, which typically includes:
To be legally effective, the form requires certification by the corporate secretary and a countersignature from another authorized officer, recorded in the corporation's official minutes. The resolution remains in force until the board formally rescinds it or issues a new one. A superseding resolution automatically replaces all prior authorizations, keeping banking records and institutional accounts current.
Common situations requiring a new or updated resolution include opening a business bank account, adding or removing authorized signatories, restructuring borrowing authority after a leadership change, or satisfying an annual institutional review. Corporations operating in multiple states or regulated industries must maintain current authorization documents as part of good corporate governance.
| Question | Answer |
|---|---|
| Form Name | Corporate Authorization Resolution Form |
| Form Length | 2 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 30 sec |
| Required signatories | Corporate secretary and one other officer |
| Common use | Opening bank accounts, authorizing signatories, loan applications |
| Other names | authorization resolution corporate, blank corporate resolution form, resolution form, corporate authorization resolution |