Form with which a corporation may alter the amount of outstanding shares issued by the corporation.
Shareholder Resolution Example In Contra Costa
State:
Multi-State
County:
Contra Costa
Control #:
US-0034-CR
Format:
Word;
Rich Text
Instant download
Description
Free preview
Form popularity
FAQ
What should shareholder resolutions include? Your corporation's name. Date, time and location of meeting. Statement that all shareholders agree to the resolution. Confirmation of the necessary quorum for business to be conducted. Names of shareholders present or voting by proxy. Number of shares for each voting shareholder.
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.
There are two main types of shareholders' resolution: 'ordinary' and 'special'. An ordinary resolution is passed by a simple majority of members, while a special resolution requires not less than 75% of the total voting rights of eligible members.
A written resolution is an alternative way for shareholders to vote on a resolution that requires their approval to become effective. Importantly, the company does not need to convene a general meeting. This saves considerable time and expense.
Examples: Shareholder resolutions can cover a broad spectrum of topics, such as appointing independent auditors, approving major transactions, amending the company's articles of association, or advocating for environmental and social responsibility initiatives.
A resolution has two parts: the heading and the body. The heading is the administrative/organizational portion of a resolution and contains the name of the committee, the topic, and the names of the sponsoring countries, the countries that are signatories, and the committee code.
Board resolutions deal with operational and management decisions, while shareholder resolutions address more significant, often strategic, matters affecting the company.
A special resolution must be passed by at least 75% of the votes cast by shareholders of the company entitled to vote on the resolution and who vote at the meeting in person or by proxy (if proxies are allowed). The sole shareholder of a company may pass a resolution by recording and signing their decision.