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Financial Written Action

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FINANCIAL WRITTEN ACTION

Company Information

Company Name:

Written Action

The undersigned, being the duly authorized representative of the Company named above, adopts the following written action and resolves that the matters set forth below are hereby approved, authorized and adopted as the act and decision of the Company effective as of Action Date: .

Recitals

WHEREAS, the Company proposes to authorize the following financial transactions and related actions (collectively, the "Authorized Transactions"):

WHEREAS, the aggregate maximum amount to be authorized under this Written Action is: (USD); Payee/Vendor: ; Purpose:

Account or Budget Code to be charged: . Effective Date of authorization: .

Itemized Authorization Schedule

Description Quantity Unit Rate (USD) Amount (USD)
Subtotal (USD)
Tax (USD)
Shipping / Fees (USD)
Total Authorized (USD)

Authorization

Resolved, that the undersigned authorizes the officers identified below to take such actions and execute such instruments as they deem necessary or advisable to effect the Authorized Transactions, including without limitation executing payment instructions, disbursing funds, entering into loan documents, opening or closing bank accounts, and engaging advisors or counsel, subject to the limits set forth below.

Maximum per-transaction limit for disbursement without further approval: USD. Borrowing authorization (if any):

Payment Instructions

Preferred Payment Method:

Representations and Covenants

The Company represents and warrants that (i) it has full corporate power and authority to take the Authorized Transactions; (ii) the execution and delivery of any documents required by the Authorized Transactions will not violate the Company's governing documents or any material agreement to which the Company is a party; and (iii) funds authorized for disbursement are available and legally allocable for the stated purpose. The authorized officers shall exercise reasonable care and act in good faith in carrying out the Authorized Transactions.

Ratification

All acts, agreements, instruments and documents previously executed by any officer or agent of the Company in connection with the matters described herein are hereby ratified, approved and confirmed in all respects.

Certification

I hereby certify that I am the duly authorized representative of the Company and that the foregoing Written Action was adopted by the undersigned in accordance with the Company's governing documents and applicable law and is in full force and effect as of the Effective Date indicated above.

Company Representative:

By:

Date:

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What a Financial Written Action Is

Financial Written Action is a formal, written resolution used by corporate boards, shareholders, or authorized officers to document financial decisions without an in-person meeting. It records explicit approvals for transactions such as opening or closing bank accounts, approving loans, authorizing disbursements, accepting financing, or delegating signing authority. The document sets the scope of authority, identifies authorized signatories, and states effective dates and amounts where applicable. When properly executed, a written action carries the same legal weight as a vote taken at a meeting if state corporate law and governing documents permit written consents.

Why a Financial Written Action Matters

A Financial Written Action documents authorization and creates a clear audit trail for financial transactions, reducing ambiguity and compliance risk. It enables timely decisions without convening a meeting, memorializes approval limits and signatory authority, and supports audit and banking requirements.

Why a Financial Written Action Matters

Who Typically Prepares and Signs These Documents

Corporate boards, shareholders, officers, and finance teams routinely use Financial Written Actions when bylaws or statutes allow written consent.

  • Board members and corporate secretaries who draft and certify consents under corporate bylaws and statutes.
  • CFOs and treasury staff authorizing bank account changes, loans, disbursements, and vendor payment authority.
  • Shareholders executing unanimous written consents to approve mergers, capital raises, or financial statements.

Smaller organizations and nonprofits may also rely on written actions to accelerate financial approvals and maintain a verifiable record.

Required Information and Core Fields

Entity Name: Full legal entity name as registered
Resolution Text: Clear statement of approved financial action
Authorized Signatories: Full names, titles, and signature authority
Effective Date: MM/DD/YYYY format; when action begins
Amounts and Limits: Dollar amounts, caps, and payment terms
Record of Consent: Signatures, dates, and attestation statements

Key Components of a Professional Financial Written Action

A professional Financial Written Action organizes required approvals, identifies signers, states authority limits, cites governing documents, and creates an auditable record for internal and external review.

Resolution

Draft a concise resolution clause that states the specific financial action approved, the authority granted, any applicable monetary limits, and whether the approval is conditional on additional documentation or regulatory clearance.

Signatories

List each authorized signer with full legal name, corporate title, authority scope, and signature block; include alternates and specify whether electronic signatures are acceptable for each signer.

Recitals

Provide background recitals summarizing the business rationale and context for the financial action, including dates, parties involved, and references to relevant prior resolutions or agreements.

Effective Terms

State the effective date and duration of the authorization, any expiration conditions, and procedures for amendment or ratification if subsequent meetings alter the decision.

Exhibits

Attach supporting exhibits such as bank agreements, loan terms, fee schedules, or board minutes; reference each exhibit clearly and ensure attached documents are signed where required.

Certification

Include a certification by the corporate secretary or authorized officer confirming proper notice, quorum (if applicable), and that the written action complies with bylaws and applicable state corporation law.

Step-by-Step: Prepare and Execute a Financial Written Action

Follow these steps to prepare, approve, and execute a Financial Written Action that meets corporate and banking requirements.

  • 01
    Draft: Prepare resolution language and attach supporting documents
  • 02
    Review: Have legal counsel and CFO review for authority and compliance
  • 03
    Sign: Collect authorizing signatures and dates per the signatory list
  • 04
    Record: File signed action with corporate records and notify banks

Where to File, Send, and Present Executed Documents

Routing and submission steps ensure the written action is properly recorded with corporate custodian and presented to banks or regulators as needed.

  • Internal Filing: Deliver signed original to corporate secretary and minute book
  • Bank Submission: Provide certified copy to bank with account authorization forms
  • Regulatory Filing: File any required notices or filings with state agencies
  • Distribution: Send executed copies to signers, auditors, and relevant departments

Online Workflow Settings for Electronic Execution

Configure an eSignature workflow to collect signatures in order, attach exhibits, and preserve an audit trail for the Financial Written Action.

Field Configuration
Signing Order Sequential or parallel; use sequential for delegated authority
Signer Authentication Email link, optional SMS code, or KBA when required
Attachments Enable required attachments and label each exhibit
Audit Trail Require certificate of completion with timestamps and IP

Platform Capabilities to Support Financial Written Actions

Use a platform that supports encrypted storage, tamper-evident signed PDFs, audit trails, and optional advanced authentication for high-value financial approvals.

  • File Formats: PDF, DOCX, and fillable PDF accepted
  • Integrations: Connects with banking portals, ERP, and CRM
  • Authentication: Email, SMS, KBA, SSO options available

Pricing and Feature Snapshot for eSignature Providers

Comparison of common eSignature plans and capabilities relevant to Financial Written Action execution, compliance, and recordkeeping; signNow is listed first in the vendor column.

signNow DocuSign Adobe Sign PandaDoc HelloSign
Starting Price $8/user/mo $15/user/mo $14/user/mo $19/user/mo $15/user/mo
Free Trial 7-day free trial Varies Varies Varies Varies
Bulk Send Yes (Business Premium) Varies Varies Varies Varies
Audit Trail Yes Yes Yes Yes Yes
HIPAA Compliant Yes (BAA required) Yes Yes No No

Penalties and Risks of an Incorrect Financial Written Action

Bank Rejection: Incorrect signatures can void authorization
Personal Liability: Unauthorized signatories may incur liability
Transaction Delay: Processing stalls until corrected
Regulatory Penalties: Fines or sanctions in regulated industries
Tax Implications: Backup withholding or reporting errors
Contract Enforceability: Ambiguous authority risks voided agreements

Common Preparation Mistakes to Avoid

  • Using informal language, vague monetary limits, or failing to reference governing bylaws, which can lead to differing interpretations and bank refusals.
  • Omitting exact signer names, titles, or email addresses causing signers to be unable to authenticate or banks to reject the document.
  • Failing to attach referenced exhibits or to certify that attachments are true copies, complicating due diligence and audit trails.
  • Not verifying state law for required witness or notary steps (including RON acceptance), which can render the written action ineffective.

Practical Tips for Accurate and Efficient Completion

Adopt these practices to reduce rework, support bank acceptance, and preserve compliance-ready records for audits and legal review.

Use exact legal names and corporate identifiers
Always use the entity's exact legal name as registered with the Secretary of State, include the EIN where appropriate, and reference the corporate formation document or charter to eliminate ambiguity during bank or regulatory validation.
Confirm signer authority and provide documentation
Verify that signers are officers or agents with authority under bylaws or delegation instruments; attach board minutes or prior resolutions evidencing delegation to prevent disputes and satisfy bank 'good signature' requirements.
Prefer eSignatures with strong audit trails
Collect electronic signatures combined with authentication and an audit trail that records timestamps, IP addresses, and signer consent, ensuring compliance with ESIGN (15 U.S.C. §7001) and UETA where applicable.
Maintain an organized exhibit index
Label and reference each attachment clearly within the resolution, include page counts and digital hashes where feasible, and store a single archival PDF/A copy alongside the corporate minute book for consistent retrieval.

Practical Examples from Real Organizations

Real-world examples show how Financial Written Actions streamline transactions across property management and healthcare operations.

Martin Properties

Martin Properties replaced in-person signings with written actions executed electronically to close property transactions faster and reduce scheduling delays.

  • Enabled remote approval and bank authorization updates.
  • The firm preserved a clear audit trail and stored signed archive copies in PDF/A format, simplifying lender onboarding and reducing time to fund closings while maintaining compliance with corporate governance records requirements.

Fertility Centers of Illinois

Fertility Centers of Illinois used written actions for vendor payment authority and banking authorizations to centralize approvals across locations and ensure consistent documentation.

  • Centralized approvals and consistent documentation across clinics.
  • By standardizing authorization language and attaching supporting invoices and service agreements, the organization simplified audits, improved vendor payment timelines, and maintained HIPAA-compliant records where financial actions intersected with patient billing.

Timelines and Typical Processing Expectations

Typical timelines and expectations for executing, recording, and presenting a Financial Written Action to banks, auditors, and internal records.

Execution Window:

Aim to obtain all signatures within 7–14 business days to avoid delays

Record Filing:

File executed action with corporate records immediately after signing

Bank Updates:

Provide certified copies to banks within 30 days to update account authorizations

Audit Availability:

Keep signed records accessible for audits; provide copies within 48 hours if requested

Regulatory Notifications:

Submit required regulatory filings per agency timelines; consult counsel for deadlines

Frequently Asked Questions about Financial Written Actions

Answers to frequent questions about validity, signing methods, notary requirements, updating actions, and what to include for bank acceptance.


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