Board Resolution for Changing Bank Signers

Started by DeniseV1 • 7 replies • 9563 views

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DeniseV1 (California)
Posts: 3

Posted:

Our HOA has used the same bank for so long, with the same volunteer as treasurer, that we don't know how to properly word a board resolution to change the signers on the HOA's bank account. (We're talking years here.)

Can anyone send me a sample board resolution that is valid for a California bank account? I really appreciate the help.

Sign me...

The New Treasurer

SusanW1 (Michigan)
Posts: 5,202

Posted:

Our banks (in Michigan) want to see approved minutes of the meeting appointing or electing someone treasurer OR to be put on the signers cards. A simple motion will do. We bring the official minutes to the bank and the new person has to come also in order to sign the cards.

GlenL (Ohio)
Posts: 5,491

Posted:

You can also call or stop in to the bank and ask them exactly what needs to be done.

Studies show that 5 out of 4 people have problems with fractions

DeniseV1 (California)
Posts: 3

Posted:

Dear Glen--

Thanks for the suggestion. That way I'll be more likely to have exactly what the bank needs.

Denise V

DeniseV1 (California)
Posts: 3

Posted:

Hi, Susan--

I realize every state is different so I'll try Glen's recommendation. Thanks for your help.

Denise V

SusanW1 (Michigan)
Posts: 5,202

Posted:

Let us know . . .Thanks

EllenS1 (Florida)
Posts: 1,148

Posted:

Quote:

Posted By DeniseV1 on 05/30/2008 12:09 PM
Hi, Susan--

I realize every state is different so I'll try Glen's recommendation. Thanks for your help.

Denise V

Glen is right on point. The bank can probably furnish you with a sample resolution which you may not even have to tweak.

DwightT (Idaho)
Posts: 664

Posted:

Just to throw a wrench in the works, it's not always simple. A few years ago I became the treasurer for a local non-profit after the old treasurer (and only authorized signature) moved away without telling anyone. All the bank required to put me on the account was a copy of the meeting minutes that stated I was the treasurer. Real simple.

Last year when our HOA got an entirely new Board, the same bank (different branch) refused to put any of them on the account unless one of the old Board members went in with them and authorized it. It didn't matter that they had the minutes of the meeting, or even the annual report from the Secretary of State's office that showed them as the current Board members. They insisted that they had to have the authorization of one of the people who were currently on the account.

In this case it was mostly just an annoyance, but I would imagine that it could have been a real problem in a situation where the old Board had been thrown out by the homeowners.

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