Directors Rules In Georgia

• Category: Corporations - Minutes and Resolutions
• State: Multi-State
• Control #: US-0043BG
• Format: Word; Rich Text

Description

The Action of the Board of Directors by Written Consent in Lieu of a Meeting is a formal document that allows corporate Directors in Georgia to make decisions without convening a physical meeting, particularly when adopting a stock ownership plan under Section 1244 of the Internal Revenue Code. This form ensures compliance with the Model Business Corporation Act, specifically §8.20, which provides guidelines for written consents. Key features include spaces to list the corporation's name, state, and specific actions approved by the Directors, along with the requirement for signatures and printed names of each Director. Filling out this form involves clearly identifying the Corporation, defining authorized signatories, and ensuring proper execution and dating of the consent. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants who need to document decisions made by corporate Directors efficiently and legally. These users benefit from the streamlined process of decision-making without the need for physical gatherings, allowing for swift action in corporate governance.