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Resolution Board Sample

State:
Louisiana
Control #:
LA-5488
Format:
Word; 
Rich Text
Instant download

Description Resolution Board Authorization

In this example, the board of directors of a corporation resolves to authorize its vice president to execute an Act of Subordination covering a certain parcel of real estate. Subordination means an agreement to put a debt or claim which has priority in a lower position behind another debt, particularly a new loan. A property owner with a loan secured by the property who applies for a second mortgage to make additions or repairs usually must get a subordination of the original loan so the new loan has first priority.
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Resolution Board Sample