NY Hudson Valley Credit Union Business/Organization Resolution of Authority 2009 free printable template

Member Number/Account Number CORPORATE RESOLUTION OF AUTHORITY By: Hudson Valley Federal Credit Union, Referred to in this document as Financial Institution, Referred to in this document as Corporation

How to fill out NY Hudson Valley Credit Union BusinessOrganization

How to fill out NY Hudson Valley Credit Union Business/Organization Resolution

1. Obtain the NY Hudson Valley Credit Union Business/Organization Resolution form.
2. Fill in the name of the business or organization at the top of the form.
3. Specify the nature of the business or organization in the designated section.
4. List the names of all authorized individuals who can act on behalf of the business or organization.
5. Indicate the capacity in which each individual is authorized to act (e.g., title or role within the organization).
6. Provide any additional details that may be required, such as the business address and contact information.
7. Review the completed form for accuracy and completeness.
8. Have the authorized individuals sign the resolution where indicated.
9. Submit the completed resolution to the NY Hudson Valley Credit Union.

Who needs NY Hudson Valley Credit Union Business/Organization Resolution?

1. Any business or organization that wants to open or manage an account with NY Hudson Valley Credit Union.
2. Business owners or representatives who need to establish authorized signers for banking purposes.
3. Non-profit organizations requiring banking services and oversight for their financial activities.

Instructions and Help about NY Hudson Valley Credit Union BusinessOrganization

Hi my name is Keith Hall I'm a CPA and I work exclusively with small businesses just like you one of the questions you're going to have to answer is what form of organization are you going to operate your new business you're going to be a corporation an LLC partnership sole proprietor lots of choices out there pros and cons for all of those so let's talk about the LLC limited liability company now this is a relatively new form of organization very popular these days we talked in other videos about being a sole proprietorship talk about being a partnership this is kind of a hybrid between those two and the corporation that we also talked about in another video this is kind of in the middle ground we talked about the detriment of sole proprietorship and partnerships being that the liabilities of the company are also the responsibility of the owners the LLC helps with that so one of the main benefits of a limited liability company as you would guess from its name is it can limit the liability that you could end up with personally so if there is an accident for example in your business there's an automobile accident and there's a lawsuit operating as a limited liability company can provide some protection from your personal assets being subject to this liability, so this can be very, very beneficial now an LLC also from a detriment standpoint you got to jump through a few more hoops the LLC is organized at your state's level you actually got to file some paperwork and pay some fees with your state's Secretary of State basically they're called articles of organization now the good news is your state has a very good website with and forms already posted for you can fill in the totals fill in the names and the amounts all of that stuff and then submit those on the line online, and now you have your LLC so a little more expensive a little more cumbersome because you got to have followed those papers also from a legal standpoint that LLC has to maintain its status with the state, so you got to keep filing every year you got to have minutes of the members of the organization that's what the owners are called, so you got to have annual meetings, so this liability concept needs to recognize that the LLC is a separate entity from its owners, so we've got to look like a company smell like a company have meetings like a company, so you've got to make sure you maintain the paperwork, so that's one of the small detriments of a limited liability company because you got to keep track of all that stuff on the good side you do have that potential limited liability and provide some protection to your assets now interestingly enough from an IRS standpoint, and I'll put this on the good side and the bad side of the LLC form of organization and that is the IRS doesn't recognize the LLC as its own taxable entity so what you have to do is choose how you're going to be taxed as an LLC if it's just you if you're the only owner of the LLC you can either be taxed as a sole...

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What is NY Hudson Valley Credit Union Business/Organization Resolution?

The NY Hudson Valley Credit Union Business/Organization Resolution is a formal document that authorizes specific individuals to conduct business on behalf of an organization or business with the credit union.

Who is required to file NY Hudson Valley Credit Union Business/Organization Resolution?

Any business or organization that wishes to establish an account or set up services with NY Hudson Valley Credit Union must file a Business/Organization Resolution.

How to fill out NY Hudson Valley Credit Union Business/Organization Resolution?

To fill out the resolution, you need to provide the organization's name, the names of the authorized individuals, their titles, and any specific powers or limitations. Following this, signatures from the authorized individuals and/or board members may be required.

What is the purpose of NY Hudson Valley Credit Union Business/Organization Resolution?

The purpose of the resolution is to formally document the authorization of individuals to act on behalf of the organization, ensuring that the credit union has clear and legal representation for transactions and agreements.

What information must be reported on NY Hudson Valley Credit Union Business/Organization Resolution?

The resolution must report the organization's name, the names and titles of authorized representatives, their powers, any restrictions, and the date of the resolution along with required signatures.