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Township names banks, sets authorized signatories and approves $1,000,000 treasurer's bond
Summary
Upper Hanover designated Quakertown National Bank, PA Local Government Investment Trust, Univest Bank and Embassy Bank as depositories, set any-two authorized signatories among officers, and approved a $1,000,000 treasurer's bond through Selective Insurance Co.
The Board designated four institutions as official township depositories for 2025: Quakertown National Bank (QNB), PA Local Government Investment Trust, Univest Bank and Embassy Bank. The board also confirmed that any two of the following will be authorized to sign checks and complete bank transactions: Chairperson, Vice-Chairperson, Secretary/Treasurer, Assistant Secretary and Assistant Treasurer.
Separately, the board approved a treasurer's bond of $1,000,000 issued by Selective Insurance Company. Those arrangements were approved unanimously and recorded in the organizational meeting minutes as part of the township’s annual fiscal housekeeping.
These actions establish the township’s fiscal custodial arrangements and internal controls for 2025.
