Form with which the board of directors of a corporation accepts the resignation of a corporate officer.
Resignation Officer With Director In Hillsborough
Category:
State:
Multi-State
County:
Hillsborough
Control #:
US-0005-CR
Format:
Word;
Rich Text
Instant download
Description
Form popularity
FAQ
In most cases, one or more directors will submit written charges to remove an officer to the secretary of the corporation, but a shareholder can also submit charges. The written charges usually need to be accompanied by a petition signed by at least 5% of the corporation's members.
Sec. 7.5 (a) Any officer may resign at any time upon written notice of resignation to the Board, the President, or the Secretary. Any such resignation shall take effect upon receipt of such notice or at any later time specified therein.
By regulation, each branch of the military authorizes Unqualified Resignations. Officers must make a request, and if approved, the officer receives an honorable discharge upon receipt of separation orders.
How to write a resignation letter as an executive Include all relevant contact information and the date. Write a salutation. Explain the reason for your letter. Express your gratitude. Offer to help with the transition. End on a positive note. Include a sign off.
So, the answer to the question is: Yes, a director can be forced out – but the exact scenario depends on the protocols you establish from day one.
You simply resign. Submit a written statement to the board of directors informing them of your resignation and its effective date. Resigning won't cut off anyone's right to try and sue you for wrongful acts you committed while you were an officer.
The resignation of a board member will most likely leave an imprint on the director, the rest of the board and possibly the organization as well. If you are resigning, it is usually best to be truthful about the reasons.
Normally, the Board could accept the resignation of a director, so until they actually accept the resignation via a motion to accept it (which also has to pass by a majority vote to take effect), a resignation can be withdrawn which means that it never happened and everyone just carries on.
The resignation need not be accepted by the board for it to be effective. In addition, the company will have to lodge a prescribed notice of the director's vacation of office (whether by resignation or otherwise) with the Registrar within one month of a person ceasing to be a director of the company.
