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Location. The bank, trust company or other firm or corporation carrying on a banking business and used by Scots of Canada shall be located in Canada and operate under Canadian Banking rules and regulations.

Banking Authorizations.

• A minimum of three at arm's length directors and/or officers shall have signing authority for banking transactions.    
• There should be at least two signing authorities, at arm's length from each other, for all banking transactions with the exception of deposits which may be done by one person acting as a deposit only agent. For example, two signing authorities, neither of which is the recipient, are needed to approve any expenditures including any outgoing e-transfers. 
• A deposit only agent does not have to be a signing authority but must be authorized by the board to act in such capacity.

Treasurer Residence. The treasurer should reside in Canada due to banking requirements.

Effective Date. This policy is effective as of September 1, 2025 and supersedes any prior policies Banking arrangements.

Revision. (YY/##). 2502