Lcu Corporate Borrowing Resolution

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Indirect Lending
Indirect Lending
Corporate Borrowing Resolution
The undersigned, certify that _______________________________________ (the Company) is organized and existing as one of the following:
(Must check the appropriate entity)
_____ Corporation
_____ LLC
_____ Limited Partnership
_____ General Partnership
_____ Limited Liability Partnership
_____ Unincorporated Association
_____ Municipal Affiliated Entity
_____ Sole Proprietorship
This organization operates under and by virtue of the laws of the State of Massachusetts with its offices at ____________________________
and is duly authorized to transact business in the State of Massachusetts.
Trade Names. The following is a complete list of all trade names under which the Company is authorized to do business as:
___________________________________________________________________________________________________________
The undersigned, further certify that at a meeting of the governing body of the Company, the company with the required number of persons
present and voting, or by other duly authorized action or agreement in lieu of a meeting, the following resolutions were adopted:
Resolved that the following named person(s) acting singly hereby authorized, on behalf of the company.
1. To borrow money and to obtain credit for this company from said Credit Union/Bank on any terms, and to execute and deliver notes, drafts, acceptances,
instruments of guaranty, security agreements and any other obligations of this Company therefore in form satisfactory to the Credit Union/Bank.
2. To pledge, convey or assign and deliver, as security for money borrowed or credit obtained, stocks, bonds, certificates of deposit, real estate, accounts receivable,
equipment, inventory, mortgages, insurance policies, certificates and any other property held by, or belonging to, this company with full authority to endorse the
same in the name of this Company.
3. To discount any bills receivable or any paper held by this company, with full authority to endorse the same in the name of this company.
4. To withdraw from the Credit Union/ Bank, and give receipt for, or to authorize the Credit Union/ Bank to deliver to bearer or to one or more designated persons, all
or any documents and securities or other property held by it, whether held as collateral security or for safekeeping or for any other purpose.
5. To sell or to authorize and request the Credit Union/Bank to purchase or sell, for the account of the Company, foreign exchange, stocks, bonds and other
securities;
6. To apply for and receive letters of credit and to execute and deliver all necessary or proper documents for that purpose, including indemnity agreements,
acceptance agreements, trust receipts, guarantees for missing documents or any of the various instruments which may arise incident to letter of credit;
7. To execute and deliver all instruments and documents required by the Credit Union/Bank in connection with any of the foregoing matters.
Printed Name
Signature
Title
Printed Name
Signature
Title
Printed Name
Signature
Title
Loan Services Authorization
Further Resolved that the powers and authority hereby given shall continue in force until notice of the revocation thereof by proper resolution
shall be given to the Credit Union/Bank by delivery of an attested copy of such resolution.
Attest my signature on behalf of the Company
/
/
(date).
By:___________________________________________
Title:_______________________________________
20 Adams Street • Leominster, MA 01453 |
20 Adams Street, Leominster, MA 01453
|

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