Members, upon or after admission, shall make capital contributions. Except as provided in the articles or bylaws, the board shall fix the amount.We provide a free LLC capital contribution agreement template that can be used for both initial and additional capital contributions. Resolutions of the board of directors of a corporate limited partner authorizing an additional contribution of capital to a limited partnership (LP). Our attorney-drafted template is easy to fill out, and if you if you don't have the time to complete it in a sitting, don't worry! (1) Each corporation must have a board of directors, except that a corporation may dispense with or limit the authority of its board of directors. Seven steps for writing a board resolution, plus a definition, what it's required, how to pass a resolution and FAQs. (4) The term of a director elected to fill a vacancy expires at the next shareholders' meeting at which directors are elected. Corporate officers and agents implement the decision of the board of directors. Accounting Manual for.