Form with which an individual may formally accept an appointment as a corporate officer or representative.
Resolution For Appointment Of First Directors In Franklin
Category:
State:
Multi-State
County:
Franklin
Control #:
US-0001-CR
Format:
Word;
Rich Text
Instant download
Description
Form popularity
FAQ
What is a Directors' Resolution? A Directors' Resolution, also known as a corporate resolution, is a document that records decisions made by a corporation's board of directors. It can be used during a meeting or in lieu of a meeting.
This is usually done by passing an ordinary resolution in favour of the appointment (ie a majority of the shareholders agree to the appointment). Make sure to check the articles to see whether they impose any different requirements (eg requiring at least 75% of shareholders to agree to the appointment).
“RESOLVED THAT pursuant to the provisions of section 161(4) of the Companies Act, 2013, read with Articles of Association of the Company, Mr. _______ be and is hereby appointed as Director of the Company in order to fill the casual vacancy caused by the death/removal/resignation of Mr. _______, Director of the Company.
Who appoints directors? Most commonly, directors are appointed by the shareholders at the Annual General Meeting (AGM), or in extreme circumstances, at an Extraordinary General Meeting (EGM). A resolution for the appointment is put to a vote, and passed if a majority of shares are voted in favour.
Promoters have to decide about the members who will be signing the Memorandum of Association of the proposed company. People signing the memorandum are the first Directors of the Company.
Article 17 of the model articles for private limited companies allows for appointment either by the board of directors or by ordinary resolution of the shareholders.
The company may pass a resolution to appoint a director in an Annual General Meeting (AGM). If the company decides to appoint a director in the middle of the year, it may appoint a director by passing a resolution in an Extraordinary General Meeting (EGM).
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.
First director resolutions These types of resolutions are another part of the initial structuring of your company. The First Resolution of the Directors is the document in which the directors authorize the company to issue shares, appoint officers, and approve the company's fiscal year-end date.
A corporate resolution formally documents specific decisions or actions taken by a company's board of directors or shareholders. It typically addresses key issues like authorizing contracts, appointing officers, or approving major business transactions.
