Hawaii Corporate Resolution

• Category: Corporations - Business Formation
• State: Multi-State
• Control #: US-ENTREP-0089-1
• Format: Word; Rich Text

Description

A corporate resolutionoutlines the decisions and actions made by a company's board of directors. A corporate resolution helps the corporation to remain independent from its owners by ensuring that the decisions made by the board and the corporate executives do not create a conflict of interest with the owners.

A Hawaii corporate resolution refers to the legally binding document that outlines and records the decisions or actions taken by the board of directors or shareholders of a corporation operating in the state of Hawaii. This authoritative document is used to approve important matters or changes within the company and serves as an official record of the company's decision-making process. Keywords: Hawaii, corporate resolution, board of directors, shareholders, legally binding, decisions, actions, company, record, decision-making process. There are different types of Hawaii corporate resolutions that can cover a wide range of corporate matters. Some common types include: 1. Authorization Resolutions: These resolutions grant specific powers or authorize specific actions to be taken by the board of directors or other authorized individuals within the corporation. Examples of authorization resolutions include authorizing a loan, amending bylaws, or acquiring assets. 2. Board Resolution: This type of resolution is passed by the board of directors, typically during their regular or special meetings. Board resolutions can cover various matters like appointing officers, declaring dividends, approving budgets, or issuing stock. 3. Shareholder Resolution: Shareholder resolutions are passed during the corporation's annual general meeting or special shareholder meetings. These resolutions require majority or sometimes super majority approval from shareholders and can cover matters like electing directors, approving mergers, or initiating legal actions. 4. Memorandum of Resolution: A memorandum of resolution is a summary document that outlines the resolution's content without reproducing the entire text. This concise form is often used to communicate or notify parties affected by the resolution without disclosing all the details. 5. Special Resolutions: Special resolutions are reserved for vital decisions that require a higher level of shareholder approval. In Hawaii, special resolutions typically necessitate a higher majority of votes, such as a two-thirds or three-quarters majority. They are commonly used for significant changes like amending the articles of incorporation, changing the company name, or winding up the corporation. It is crucial for all Hawaii corporations to understand the importance of maintaining accurate and comprehensive corporate resolutions to ensure legal compliance and proper documentation of corporate decision-making. Note: The information provided here is for general guidance only and should not be considered legal advice. It is advisable to consult a legal professional familiar with Hawaii corporate law to understand specific requirements and procedures related to corporate resolutions in the state.