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Sample Board Resolution for Closure of Bank Account in Kenya

Institution: General

Course: Business

Content Category: Legal Documents and Forms

Posted By: raphael

Document Type: DOCX

Number of Pages: 2

Price: KES 50
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Views: 549     Downloads: 2

Summary

A board resolution to close a bank account is a formal decision made by a company's board of directors to authorize the closure of a specific bank account held by the company. It outlines the reasons for closing the account and designates an authorized representative to initiate the closure process and handle related matters.

The purpose of a board resolution is to obtain the board's approval and provide a clear mandate for closing the bank account. It ensures proper decision-making, compliance with corporate governance requirements, and protects the company's interests throughout the account closure process.

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