The Michigan Resolution Selecting Bank for Corporation and Account Signatories — Corporate Resolutions is a legal document that outlines the process and decision-making for a corporation in Michigan to select a bank and appoint signatories for its accounts. This resolution is crucial for outlining the steps and responsibilities related to the financial management of the corporation. When drafting this resolution, it is important to include relevant keywords that capture its purpose and various types. Below are different types of Michigan Resolutions Selecting Bank for Corporation and Account Signatories — Corporate Resolutions: 1. General Corporate Resolution: This type of resolution is used by corporations in Michigan to systematically select a bank for all their corporate accounts and identify individuals who will be authorized as signatories. 2. Annual Bank Selection Resolution: This resolution type is specific to corporations in Michigan that have a yearly process of selecting a bank and appointing signatories. It ensures that the choice of bank is regularly reviewed and updated. 3. Specialized Account Resolution: Some corporations in Michigan may require multiple banks for different accounts based on their financial needs. This resolution type focuses on selecting specific banks for specialized accounts, such as trust accounts or merchant accounts. 4. Change of Bank Resolution: In situations where a corporation needs to change its current bank, this resolution comes into play. It provides a step-by-step guide on how to select a new bank and transition the account signatories smoothly. 5. Successor Bank Resolution: This resolution is applicable when a corporation needs to select a successor bank due to mergers, acquisitions, or bankruptcy of the current bank. It outlines the process of evaluating potential successor banks and appointing new account signatories. 6. Multi-Bank Resolution: Some larger corporations in Michigan may require accounts across multiple banks to diversify their financial risk. This resolution type enables the corporation to select and appoint signatories for accounts in several banks simultaneously. Overall, the Michigan Resolution Selecting Bank for Corporation and Account Signatories — Corporate Resolutions is a comprehensive legal document that ensures corporations in Michigan select suitable banks and appoint authorized signatories for their accounts.