The Pennsylvania Resolution Regarding Corporate Name Change, a type of Corporate Resolution, refers to the legal process by which a corporation operating in the state of Pennsylvania seeks to change its name. This resolution outlines the steps to be followed and the requirements to be met for a smooth and legally compliant name change. The primary purpose of the Pennsylvania Resolution Regarding Corporate Name Change is to provide a formal documentation of the decision made by a corporation's board of directors or shareholders to change the name of the company. This resolution serves as evidence of the intentions and agreement of the company's leadership and is often required by various government agencies, financial institutions, and other stakeholders in order to update official records and contracts. Some key elements that may be included in the Pennsylvania Resolution Regarding Corporate Name Change are: 1. Identification: The resolution begins with a clear identification of the corporation seeking to change its name, including its legal name and current registered office address. 2. Governing Authority: The resolution clarifies the authority of the person or entity initiating the name change, such as the board of directors or majority shareholders. 3. Purpose Statement: This section articulates the reason behind the proposed name change and provides background information or justification for the decision. 4. Approval Process: The resolution outlines the process and requirements for obtaining the necessary approvals, including any corporate bylaws, articles of incorporation, or shareholder agreement provisions. It may also mention any specific consents or notifications required from regulatory bodies or governmental agencies. 5. Proposed New Name: This section specifies the new name chosen by the corporation and confirms that the new name complies with the legal requirements of Pennsylvania and any other relevant jurisdictions. 6. Amendment of Documents: The resolution addresses the necessary amendments to corporate documents and records, such as the articles of incorporation, bylaws, bank accounts, contracts, and licenses, to reflect the new name accurately. 7. Authorization: The resolution must be properly executed by the individual(s) or entities authorized to adopt resolutions on behalf of the corporation. This may include directors, officers, or shareholders, depending on the corporation's governing structure. It is important to note that there may be different types or variations of the Pennsylvania Resolution Regarding Corporate Name Change, depending on the specific circumstances and legal requirements of the corporation. For example, variations may arise when changing the name of a nonprofit corporation, a foreign corporation, or a corporation involved in a merger or acquisition. In conclusion, the Pennsylvania Resolution Regarding Corporate Name Change is a formalized process that outlines the steps and requirements for a corporation operating in Pennsylvania to change its name. This resolution serves as evidence of the decision-making process and helps ensure compliance with legal requirements and proper updating of official records.
Pennsylvania Resolution Regarding Corporate Name Change - Corporate Resolutions
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The President and Secretary only need to sign when the resolution is certified. But they can sign an uncertified board resolution as well, but it is not required.
How To Write a Corporate Resolution Step by StepStep 1: Write the Company's Name.Step 2: Include Further Legal Identification.Step 3: Include Location, Date and Time.Step 4: List the Board Resolutions.Step 5: Sign and Date the Document.
A resolution might outline the officers that are authorized to act (trade, assign, transfer or hedge securities and other assets) on behalf of the corporation. The resolution would outline who is authorized to open a bank account, withdraw money, and write checks.
Primarily a board resolution is needed to keep a record of two things: To record decisions concerning company affairs (except for shares) made in the board of directors meeting. This is also known as a board resolution. To record decisions concerning company equity made by shareholders of the corporation.
A corporate resolution is a document that formally records the important binding decisions into which a company enters. These decisions are made by such stakeholders as the corporation's managers, directors, officers or owners.
Special resolutions - also known as 'extraordinary resolutions' - are needed for more important decisions or those decisions affecting the constitution of a company. These require at least 75% of the shareholders or directors to agree - and in some situations as much as 95%.
Examples of Actions that Need Corporate ResolutionsApproval of new board members and officers.Acceptance of the corporate bylaws.Creation of a corporate bank account.Designating which board members and officers can access the bank account.Documentation of a shareholder decision.Approval of hiring or firing employees.More items...
Board resolutions should be written on the organization's letterhead. The wording simply describes the action that the board agreed to take. It also shows the date of the action and it names the parties to the resolution.
Bylaws are the rules and guidelines for a corporation, and resolutions are supplemental documents to the bylaws.
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LCS are business entities, corporations, limited liability companies, or other form of limited liability, created for a specific purpose by a single person (the “sole proprietor”) for profit, but with limited liability of its other owners, which are known as “shareholders.” (See “C Corp Sole Proprietorship” above.) By using an LLC, you can incorporate your business, avoid certain requirements to register as a corporation or other business entity, or create a limited liability company for a variety of personal reasons—such as if you're leaving an established business in order to pursue new goals or a new career. Although there are some limitations on the personal use of LCS by some states, you can own an LLC if you do so in accordance with certain requirements. Business name change (LLC or corporation) by ownership name. You need to use LLC (Limited Liability Company) ownership name. C-Corp sole proprietorship.
