Autofill Legal New Mexico LLC Resolutions Forms For Free

An LLC corporate resolution is a record of a decision made through a vote by the board of directors or LLC members. Limited liability companies (LLCs) enjoy specific tax and legal benefits modeled after a corporate structure, although they are not corporations.

An Initial Resolution is similar to a Statement of Organizer, but both are used in different situations. Both forms are used to document the fact that the organizer has relinquished any control over the LLC, but an Initial Resolution is usually used if no member names are listed on the Articles of Organization.

An LLC member resolution is the written record of a member vote authorizing a specific business action. Formal resolutions aren't necessary for small, everyday decisions. However, they're useful for granting authority to members to transact significant business actions, such as taking out a loan on behalf of the LLC.

Most LLC Resolutions include the following sections: Date, time, and place of the meeting. Owners or members present. The nature of business or resolution to discuss, including members added or removed, loans made, new contracts written, or changes in business scope or method.

An LLC does not have to make resolutions, but there are times it could be useful: An LLC member makes a decision regarding the business's organization. A member must establish their authority to open a bank account for the LLC. Members must prove their authority to sign a loan on the LLC's behalf.

Put simply, the initial resolution shows how the corporation acts in between its formation and the adoption of its internal governing documents (your bylaws).