Form with which the board of directors of a corporation accepts the resignation of a corporate officer.
Director Resign From Company In Suffolk
Category:
State:
Multi-State
County:
Suffolk
Control #:
US-0005-CR
Format:
Word;
Rich Text
Instant download
Description
Form popularity
FAQ
How to write a letter resigning from a director role Check your service contract. Draft your resignation letter. Discuss any additional matters with the company. Address the company rather than an individual. Convey your intention to resign. Include your date of resignation. Keep it professional and brief but personal.
A director may resign from his office by giving a notice in writing to the company and the Board shall on receipt of such notice take note of the same and the company shall intimate the Registrar in such manner, within such time and in such form as may be prescribed and shall also place the fact of such resignation in ...
Ans: Yes, you can resign as a director and retain your position as a shareholder. However, it is essential to consider your company's Articles of Association or Shareholders' Agreement if it specifies whether you can keep your shares after resigning or if you must sell them back to the company or other shareholders.
Ideally this should take the form of a written notice, either left at or send to the company's registered office, stating your intention to resign and the date this is to be effective from.
Dear Sir/Madam, I hereby tender my resignation from the office of the Director of the Company Name Private Limited with immediate effect (or resignation date) and request that a notice of my resignation letter be given to the Registrar of Companies and the Board of Directors be informed at their next Board Meeting.
No minimum period of notice is required unless otherwise provided. Giving notice must therefore be considered carefully.
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.
Unless there is a special provision in the company's Articles of Association a director cannot be removed from office by the Board of Directors, and only the shareholders can remove a director. The Articles may provide a procedure for this; otherwise the statutory procedure must be used.
Breach of contract and damages In terms of section 71(9) of the Act a director removed from office may apply to a court for damages or otherwise compensation for loss of office as a director or loss of any other office as a consequence of being removed as a director.
Removal of a director. An ordinary resolution adopted at a shareholders' meeting by the persons entitled to exercise voting rights in the election of that director. Deceased. Death certificate. Term Expired/ Retired. Resolution. Removal. Notice of the meeting with reasons for removal.
