Legal

Sole Proprietorship Resolution of Authority

As used in this agreement, “I” means the owner of the sole proprietorship designated on page one.  The term “resolution” means this agreement or any other agreement granting authority to others to act on behalf of the Proprietorship. I warrant that I am the sole owner of the business whose trade name is designated on this resolution. If any other parties acquire an ownership interest in the business  (for example if I were to include a partner  in ownership  or if I were to incorporate), or if the ownership is changed in any way and I do not notify  the Financial  Institution  of that fact, I will remain fully liable personally in accordance with the terms of this resolution and any other agreements that I have signed. In consideration of the Financial Institution’s acceptance of this account under the designated trade name, and/or for the purpose of cashing or negotiating checks, drafts or other negotiable instruments payable to the designated trade name, that I endorse  in my name as owner,  that are endorsed  in the designated  trade name,  or by those authorized on page one as Agents, I agree that:

The Proprietorship named on this resolution resolves that,

Pennsylvania.The designation of an Agent does not create a power of attorney; therefore, Agents are not subject  to the provisions of 20 Pa.C.S.A. Section 5601 et seq. (Chapter 56; Decedents, Estates and Fiduciaries Code) unless the agency was created by a separate power of attorney. Any provision that assigns Financial Institution rights to act on behalf of any person or entity is not subject to the provisions of 20 Pa.C.S.A. Section 5601 et seq. (Chapter 56; Decedents, Estates and Fiduciaries Code).