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Board Meeting Resolution Example In Massachusetts
State:
Multi-State
Control #:
US-0020-CR
Format:
Word;
Rich Text
Instant download
Description
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FAQ
How to fill out a resolution of the board of directors? Date, time, and location of the meeting. Title that describes the board's decision to be made. Statement of majority or unanimous decision. Resolution of the decision, including any necessary actions. Officers responsible for carrying out the resolution.
Ordinary resolution is a resolution passed by simple majority of votes. As provided in sub-section (1) of section 114, a resolution shall be an ordinary resolution if notice of such resolution is duly given and the votes cast in favour of the resolution exceed the votes cast against the resolution, if any.
Examples of matters that can be dealt with by an ordinary resolution include the approval of annual financial statements, the appointment of auditors, and the declaration of dividends. On the other hand, a special resolution is a resolution that requires a higher majority vote, typically 75% or more, to be passed.
Sometimes, boards face pressing or urgent matters that require timely decision-making by the board. In such cases, the board may meet on an emergency basis to vote on an issue that can't wait until the next regular meeting. These decisions are called board resolutions.
A certified board resolution sample follows: That I am the duly elected and acting Secretary of insert nonprofit name; and. That the foregoing constitutes a Resolution of the Board of said organization, as duly adopted at a meeting of the Board of Directors thereof, held on the 1st day of March 2023.
Ordinary resolution is a resolution passed by simple majority of votes. As provided in sub-section (1) of section 114, a resolution shall be an ordinary resolution if notice of such resolution is duly given and the votes cast in favour of the resolution exceed the votes cast against the resolution, if any.
What is an ordinary resolution? An ordinary resolution is any matter put to a shareholder vote that requires more than 50% shareholder approval. What is a special resolution? A special resolution is any matter put to a shareholder vote that requires 75% or more shareholder approval.
A board of directors resolution (also called a “board resolution”) is the result of a director vote authorizing a specific business action. Major decisions by the board of directors should always be formally documented in writing and added to the corporate record.
Use formal language to record the resolutions. You will write your board resolutions using “whereas” and “resolved” clauses. “Whereas” statements show the reason for the resolution while “resolved” clauses state the action that will be taken. Your “whereas” statement should lead the reader to the “resolved” clause.
The following steps will guide you through the process of writing a board 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.
