Form with which the board of directors of a corporation accepts the resignation of a corporate officer.
Resignation Officer With Director In Houston
Category:
State:
Multi-State
City:
Houston
Control #:
US-0005-CR
Format:
Word;
Rich Text
Instant download
Description
Form popularity
FAQ
To file Form DIR-12 along with reason of resignation within 30days from date of resignation (this form is completely optional). It is recommended for director to file Form, if there is reason to believe that company may delay or default in filing form.
In evaluating the director's resignation, each of the Committee and the Board shall consider factors that they deem relevant, including (i) the perceived reasons for the Majority Against Vote, (ii) the qualifications and tenure of the director, (iii) the director's past and expected future contributions to the Company, ...
Immediate Cessation of Liability Day-to-Day Operations: A resigning director is no longer responsible for the day-to-day management and decision-making of the company. This responsibility shifts to the remaining directors or appointed individuals.
In the letter, mention that you want to resign, specify when (usually at least two weeks ahead), and say why you are leaving. Consult your shareholders' agreement: A director who is also a shareholder must review the shareholders' agreement to see if it requires transfer of shares or other procedures/steps to take.
Clearly, conflict with a director can be a difficult time for a company. The easiest way is normally to seek to persuade the director to resign in consideration for a severance package. Alternatively the Company's Articles may make provision for removal of a director.
You need to set aside appropriate time for your handover period – at least 2-4 weeks – meaning a large proportion of your notice period will be occupied by preparing your handover.
Filing of Form DIR-12: The company must then file Form DIR-12 with the Registrar of Companies (ROC). This form serves as a notification of the director's resignation or removal, including cases where the position is vacated due to absence from meetings.
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