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How do I fill this out?
To fill out this resolution, start by providing your full name as the Sole Member of the LLC. Next, ensure that you fill in the legal name of your LLC and include any trade names if applicable. Finally, update the date of the meeting where these resolutions were adopted.
How to fill out the Single Member LLC Authorization Resolution?
1
Enter the Sole Member's full name.
2
Provide the Legal name of the LLC.
3
Include any trade names used by the LLC.
4
Fill in the date of the meeting.
5
Affix the signature once done.
Who needs the Single Member LLC Authorization Resolution?
1
Sole Members of LLCs who need a formal record.
2
Authorized signers for LLC accounts requiring access.
3
Business owners who need to manage their finances.
4
Individuals applying for banking services at Purdue Federal.
5
Accountants or Financial Advisors for compliance documentation.
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What are the instructions for submitting this form?
To submit this form, please email it to submissions@purduefed.com. Alternatively, fax it to 765-497-3329 for immediate processing. Ensure you send the completed form to the credit union’s address at PO Box 1950, West Lafayette, IN 47996, including all required information to avoid processing delays.
What are the important dates for this form in 2024 and 2025?
Important dates for this form include any specific meeting dates noted in your documentation and periods when resolutions may need to be renewed or revised. Ensure you keep track of your LLC's annual meeting dates for ongoing compliance. 2024 and 2025 will require updated signatures or documentation if changes are made.
What is the purpose of this form?
The purpose of the Single Member LLC Authorization Resolution is to provide clear authority for the sole member to manage the LLC's financial accounts. It outlines specific powers granted to the member and any authorized signers for operational activities at Purdue Federal. This document is crucial for establishing formal banking relationships and ensuring compliance with credit union policies.
Tell me about this form and its components and fields line-by-line.
- 1. Name: Full name of the Sole Member.
- 2. LLC Name: Legal name of the Limited Liability Company.
- 3. Trade Name: Any business names under which the LLC operates.
- 4. Meeting Date: The date on which the resolutions were adopted.
- 5. Signature: Place for the Sole Member's signature.
What happens if I fail to submit this form?
Failure to submit this form can result in unauthorized access to LLC accounts. The credit union may deny transaction requests from unauthorized individuals, leading to financial inconveniences. To avoid any disruptions, ensure timely submission.
- Unauthorized Transactions: Without proper documentation, unauthorized individuals may attempt to access funds.
- Financial Compliance Issues: Failure to document resolutions may lead to compliance violations.
- Delayed Banking Services: Problems may arise in executing necessary banking procedures without valid authorization.
How do I know when to use this form?
- 1. Opening a Business Account: Necessary for formally opening a business account in the LLC's name.
- 2. Designating Authorized Signers: To provide authority to additional individuals for account management.
- 3. Updating Account Information: Essential when there are changes to account management structure.
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