Form with which a corporation may alter the amount of outstanding shares issued by the corporation.
Buyback Of Shares Resolution Format In San Bernardino
State:
Multi-State
County:
San Bernardino
Control #:
US-0034-CR
Format:
Word;
Rich Text
Instant download
Description
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FAQ
Resolutions of the board of directors authorizing and approving a reporting company's stock repurchase program. These resolutions are drafted as standard clauses and should be inserted into board minutes or a form of unanimous written consent.
Before company shares may be sold or transferred from one person to another, the company must establish a resolution to sell corporate shares. The sale of this stock must be approved by the company's board of directors. Afterwards, shares would be eligible to be sold from one person to another.
By passing the Resolution, the Board of Directors authorizes the redemption of shares from a shareholder. The shares will be redeemed provided that the corporation determines that redeeming the shares would not render the corporation unable to meet its liabilities.