Sba Form 160 Resolution Of Board Of Directors In Illinois
State:
Multi-State
Control #:
US-0042-CR
Format:
Word;
Rich Text
Instant download
Description
The Sba Form 160 Resolution of Board of Directors in Illinois is a formal document used to authorize the execution of a lease by the corporation's officers. It includes key elements such as the description of the lease, its duration, and monthly payment details. This resolution must be approved during a meeting of the Board of Directors, ensuring that the designated officers are empowered to execute the lease on behalf of the corporation. The document provides space for directors' signatures and includes a certificate of the Secretary to confirm the legitimacy of the resolutions adopted. Key features include clarity in lease terms and the ability for officers to perform necessary actions related to the lease execution. It is particularly useful for attorneys, partners, and owners to formalize major decisions in corporate governance. Paralegals and legal assistants can assist in preparing and filing this resolution effectively, ensuring compliance with legal requirements. This form aids in maintaining organized corporate records and streamlines lease agreements, benefiting all stakeholders involved.
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