Colorado Resolution of Shareholders Authorizing an Increase in the Number of Directors of Corporation
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How to fill out Resolution Of Shareholders Authorizing An Increase In The Number Of Directors Of Corporation?
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FAQ
A Colorado corporation is formed by submitting Articles of Incorporation to the Secretary of State's office. You must file online and pay the $50 filing fee. The SOS will process the Articles of Incorporation usually within 24 hours.
Shareholders are essentially the owners of a company, while the directors are a person or group who make and approve high-level decisions on the company's behalf.
What should shareholder resolutions include? Your corporation's name. Date, time and location of meeting. Statement that all shareholders agree to the resolution. Confirmation of the necessary quorum for business to be conducted. Names of shareholders present or voting by proxy. Number of shares for each voting shareholder.
Directors/Officers: The minimum number of directors required in Colorado is 1 and they must be 18 years old. The Board of Directors elects the company officers, President, Vice President (if applicable), Secretary and Treasurer. The terms of office are stipulated in the company bylaws.
Colorado S Corp Filing Requirements Specifically, to qualify for S corporation status, an entity must: Be a domestic LLC or corporation. Have no more than 100 shareholders or members (?shareholders? is the term for owners of a corporation, while ?members? is the term for owners of an LLC)
(1) A special resolution of the members (or of a class of members) of a company means a resolution passed by a majority of not less than 75%. (2) A written resolution is passed by a majority of not less than 75% if it is passed by members representing not less than 75% of the total voting rights of eligible members.
Special resolutions require a 75% majority and usually concern a company's constitution or other important decisions (including, dis-applying pre-emption rights, reducing share capital and changing the company's articles or name).
A corporation is a business entity created by law and is capable of performing acts that can have legal and binding consequences such as entering into contracts, among others. A corporation requires at least two incorporators to be established, and the law limits its ownership to only a maximum of 100 shareholders.
