What document is required for a corporation to open a cash account?

A corporate resolution is a crucial document needed for a corporation to open a cash account. This resolution is a formal statement of decisions made by the board of directors, which authorizes specific individuals to act on behalf of the corporation, including opening and managing bank accounts or investment accounts. This document helps establish accountability and provides the financial institution with assurance that the individuals have the proper authority to carry out these actions in the name of the corporation.

The other options, while they may be relevant in different contexts, do not specifically address the necessary documentation for opening a cash account. The corporate charter outlines the basic structure and purpose of the corporation, but it does not grant authority for financial transactions. A hypothecation agreement is related to the pledging of collateral for loans, and a risk disclosure document pertains to informing clients about the potential risks involved in trading or investing, but neither is required solely to open a cash account.