The Non-Profit Resolution To Open Bank Account is a crucial governance document required by Singapore banks and regulatory authorities when establishing banking relationships for non-profit entities. This resolution demonstrates proper authorization and compliance with both the organization's constitution and Singapore's regulatory framework. It specifies who can act on behalf of the organization in banking matters, establishes transaction limits, and defines operational procedures. The document is particularly important for maintaining transparency and accountability in financial operations, as required by the Monetary Authority of Singapore (MAS) and various Singapore banking regulations.
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1. Title and Date: Formal title of the resolution and date of passing
2. Organization Details: Legal name, registration number, and registered address of the organization
3. Meeting Details: Type of meeting, location, quorum confirmation
4. Resolution Statement: Primary resolution to open bank account
5. Authorized Signatories: Names and details of persons authorized to operate the account
6. Signing Authority Rules: Rules for transaction approval and signing requirements
1. Additional Banking Services: Authorization for internet banking, credit cards, etc. Include if additional services are required
2. Special Instructions: Any specific account operation instructions. Include if there are special requirements
3. Borrowing Powers: Authorization for overdraft facilities. Include if overdraft facility is needed
1. List of Authorized Signatories: Detailed information about each authorized signatory including ID/passport numbers
2. Specimen Signatures: Sample signatures of all authorized signatories
3. Supporting Documents: List of required KYC documents, constitution, registration certificates
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