The person or persons who are authorized to sign in the association are those who have been selected to handle economic and legal matters on behalf of the association. They can sign on behalf of the association and enter into agreements on behalf of the association, thus binding the association in legal matters with the outside world.
It is usually the chairman and the treasurer who sign for the association. It must be specified in the association's bylaws who is authorized to sign.
Specify the authorized signatories in the report.
The section on signing authority can be found under "Bylaws."
Here you should click on the gray bars next to the board members who are authorized to sign, so the bars turn green.
When the correct authorized signatories have been selected, you should click "Approve" on the green button at the bottom.
Importance of Signing Rules
It is important that there is consistency between the chosen signatories and the association's bylaws. If it is not specified exactly who can sign for the association, then legally, it is the entire board, and in that case, all board members must be selected as authorized signatories.
This is very important in relation to customer relationships and in relation to signatures on mandatory documents, and you must be aware that in some cases, all authorized signatories will need to physically visit your bank.