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Board Directors Resolutions With Board Members In Massachusetts
State:
Multi-State
Control #:
US-0020-CR
Format:
Word;
Rich Text
Instant download
Description
Form popularity
FAQ
A board resolution is a document that formalises important decisions made by the board of directors and the actions relating to them. It is legally binding and functions as a compliance record to provide evidence of decisions made by the board regarding pivotal company matters.
What is a board resolution? A board resolution is sometimes called a corporate resolution or directors' resolution. Simply put, a board resolution is a formal document of a board's decision. A board of directors is the highest authority in an organization, and their decisions can have far-reaching consequences.
Document must be printed on company letterhead. PLEASE NOTE: A board resolution must be signed either by two existing company directors or by one existing director and the company secretary. In the event that a company only has one director, the document can be signed by the director and one independent witness.
The board resolution is a formal document used to track details of an organization's specific decision including who voted, and their role. The board resolution is a legally binding record and is sometimes included in the board meeting minutes.
The Board Resolution is duly signed by the directors present in the meeting. There is no requirement that a Board Resolution be notarized. However, when Board Resolutions are used as evidence in court trials, notarization gives more credence to the document.
The resolution is a document recording the decisions made by the board members regarding decisions and actions a company will take.
If the directors are likely to agree to a proposed resolution or unable to convene a board meeting quickly then it may be easier to pass a written resolution instead of convening a board meeting at a later date.
Vote: Hold a vote ing to the organization's bylaws. This could be a show of hands, a voice vote or a written ballot. Record the resolution: The corporate secretary should include the vote results in meeting minutes. Collect signatures: Appropriate officers should sign the resolution to verify the vote.
Corporate resolution (also known as a board resolution) is a written legal document, issued by the board of directors of a corporation, documenting a binding decision made on behalf of the corporation.
When a board resolution is passed by a simple majority, it is called an ordinary resolution. Votes cast in favor are more than the ones against. A resolution with a majority of just over 50% of the quorum is considered passed. For example, 6 'yes' votes out of 10 are considered a majority.
