Minutes Of Board Meeting For Resignation Of Director
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How to fill out Minutes Of First Meeting Of The Board Of Directors Of A Nonprofit Corporation?
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FAQ
You are required to do it in sequential order i.e. firstly appointment of the director and then resignation of the other director. The Director resigning from the Board may attend the Board Meeting, but the director who is appointed cannot be present in the meeting as he is not a member of the Board.
These board minutes accepting the resignation of a director are important to record your company's decision about the matter. The law requires you to keep minutes of your board meetings. It is a criminal offence not to, punishable by a fine.
You will also need to inform any fellow directors, in writing, of your intention to resign and serve any notice period as laid out in your employment contract. If you are a sole director you will need to ensure another director is in place before you resign or the company could be struck off.
The Board of Directors shall take considers the notice of resignation that is received and ingly the resolution should be passed by the Board of Directors for accepting the resignation and it is necessary to draft the minutes of the meeting of the Board of Directors.