Form with which a corporation may resolve to authorize an officer or representative to loan a specific amount of funds to another party.
Corporate Resolution Example In Tarrant
State:
Multi-State
County:
Tarrant
Control #:
US-0043-CR
Format:
Word;
Rich Text
Instant download
Description
Free preview
Form popularity
FAQ
Examples of corporate resolutions include the adoption of new bylaws, the approval of changes in the board members, determining what board members have access to certain finances, such as bank accounts, deciding upon mergers and acquisitions, and deciding executive compensation.
Because corporate resolutions are subject to state laws, it's vital that they are legally compliant. You can get started creating your corporate resolution with the help of a qualified attorney. A legal professional can ensure that you include all the necessary components and let you know if you need to make revisions.
Bylaws document the rules for how the corporation shall be governed. Resolutions are prepared as needed to document important decisions and actions taken by the board of directors on behalf of the corporation.
An LLC's corporate resolution form will need to include the following: The business name. Member signatures. If a vote is taken, a record of who voted and their vote. Signatures of others involved/present (secretaries, corporate officers, lawyers, third-party representatives, etc.) Date and location.
Must include the specific date and time when the board met to pass the resolution. Must authorize a specific person or persons by name and title. Must include the types of contracts and agreements the specific individual or individuals can execute on behalf of the corporation.
7 steps for writing a resolution Put the date and resolution number at the top. Give the resolution a title that relates to the decision. Use formal language. Continue writing out each critical statement. Wrap up the heart of the resolution in the last statement.
The title of the resolution must appropriately reflect the intent. Resolutions begin with "Whereas" statements, which provides the basic facts and reasons for the resolution, and conclude with "Resolved" statements which, identifies the specific proposal for the requestor's course of action.
Corporate resolution examples include everything from authorizations for financial transactions and mergers to partnership approval, adoption of new bylaws, and executive compensation decisions.