Capital Contribution Board Resolution In Illinois
State:
Multi-State
Control #:
US-0040-CR
Format:
Word;
Rich Text
Instant download
Description
The Capital Contribution Board Resolution in Illinois is a formal document used by corporations to authorize the issuance of common stock in exchange for cash payments or the transfer of assets. This resolution is typically adopted during a meeting of the Board of Directors, ensuring compliance with corporate bylaws. Key features include the specification of the amount of cash contributed, the number of shares issued, and the details of any assets transferred. The form must be completed with the names of contributors, the number of shares to be issued, and the type of consideration provided. It is important that the President and Secretary of the Corporation sign the form to validate the resolution. This document is useful for various stakeholders, including attorneys who need to ensure legal compliance, partners and owners facilitating capital contributions, and associates, paralegals, and legal assistants who handle the preparation and filing of legal documents. The form allows for clear documentation of shareholders' contributions, which is essential for maintaining accurate corporate records and financial transparency.
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