Authorization operate bank accounts signing

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193 Points Joined July 2018

one of client registaring education trust. Kya akele secretary ko all signing authority diya ja sakta hai ya dono president aur secretary ko signing authority dena hoga trust deed ke bank operate  condition clause mein. Kya dono mein se akele hi ko de sakte hai kya. Secretary mujse bol raha hai mujhe akele hi ko singing authority banao. Kya sahi hai as per law Pls reply my dears. 

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On 13 May 2025 at 19:51 Report
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Master in Accounts & high court Advocate
9596 Points Joined December 2011

The signing authority for a trust, including an education trust, is typically determined by the Trust Deed and the governing documents of the trust. Let's break it down: Trust Deed and Signing Authority -

*Trust Deed*: The Trust Deed outlines the rules and regulations governing the trust, including the roles and responsibilities of the trustees. - 

*Signing Authority*: The signing authority can be granted to one or more trustees, depending on the Trust Deed's specifications. Bank Operation Clause - *Bank Operation Clause*: This clause in the Trust Deed specifies who can operate the trust's bank account(s) and sign on its behalf. - 

*Joint or Single Signing Authority*: The clause might require joint signatures (e.g., President and Secretary) or allow single signatures (e.g., Secretary alone). Legal Perspective - *Trust Act*: The Indian Trusts Act, 1882, provides guidelines for trusts, but specific requirements may vary depending on state laws and the Trust Deed. 

- *Trust Deed Supersedes*: The Trust Deed's provisions regarding signing authority typically supersede general rules. Recommendations - *Review Trust Deed*: Verify the Trust Deed's provisions regarding signing authority and bank operation. -

*Check Governing Documents*: Ensure compliance with the trust's governing documents and applicable laws. -

*Consult Legal Expert*: If unsure, consult a legal expert or chartered accountant familiar with trust laws. Secretary's Request - *Trust Deed's Specifications*: If the Trust Deed allows for single signing authority or specifies the Secretary as the authorized signatory, it can be granted. -

 *Board Resolution*: If the Trust Deed requires joint signatures, a board resolution might be needed to amend the signing authority. By reviewing the Trust Deed and governing documents, you can determine the appropriate signing authority for the education trust [1].

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On 13 May 2025 at 21:24
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Master in Accounts & high court Advocate
9596 Points Joined December 2011

The signing authority for a trust, including an education trust, is typically determined by the Trust Deed and the governing documents of the trust. Let's break it down: Trust Deed and Signing Authority -

*Trust Deed*: The Trust Deed outlines the rules and regulations governing the trust, including the roles and responsibilities of the trustees. - 

*Signing Authority*: The signing authority can be granted to one or more trustees, depending on the Trust Deed's specifications. Bank Operation Clause - *Bank Operation Clause*: This clause in the Trust Deed specifies who can operate the trust's bank account(s) and sign on its behalf. - 

*Joint or Single Signing Authority*: The clause might require joint signatures (e.g., President and Secretary) or allow single signatures (e.g., Secretary alone). Legal Perspective - *Trust Act*: The Indian Trusts Act, 1882, provides guidelines for trusts, but specific requirements may vary depending on state laws and the Trust Deed. 

- *Trust Deed Supersedes*: The Trust Deed's provisions regarding signing authority typically supersede general rules. Recommendations - *Review Trust Deed*: Verify the Trust Deed's provisions regarding signing authority and bank operation. -

*Check Governing Documents*: Ensure compliance with the trust's governing documents and applicable laws. -

*Consult Legal Expert*: If unsure, consult a legal expert or chartered accountant familiar with trust laws. Secretary's Request - *Trust Deed's Specifications*: If the Trust Deed allows for single signing authority or specifies the Secretary as the authorized signatory, it can be granted. -

 *Board Resolution*: If the Trust Deed requires joint signatures, a board resolution might be needed to amend the signing authority. By reviewing the Trust Deed and governing documents, you can determine the appropriate signing authority for the education trust [1].

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On 13 May 2025 at 21:36

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