Puerto Rico Signature Authorization - Unanimous Written Consent Regarding Resolution Authorizing Bank to Honor Instruments Bearing Facsimile Signatures

State:
Multi-State
Control #:
US-01313BG
Format:
Word; 
Rich Text
Instant download

Description

Both the Model Business Corporation Act and the Revised Model Business Corporation Act provide that acts to be taken at a director's meeting may be taken without a meeting if the action is taken by all the directors entitled to vote on the action. The action must be evidenced by one or more written consents bearing the date of signature and describing the action taken, signed by all the directors entitled to vote on the action, and delivered to the corporation for inclusion in the minutes or filing with the corporate records.


This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.

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FAQ

Corporate resolution (also known as a board resolution) is a written legal document, issued by the board of directors of a corporation, documenting a binding decision made on behalf of the corporation.

A corporate resolution is a formal declaration made by a board of directors that officially records specific decisions that are material to a business. These resolutions are passed by the board, officially recorded by a corporate secretary and filed among a company's official records.

Examples of corporate resolutions include the adoption of new bylaws, the approval of changes in the board members, determining what board members have access to certain finances, such as bank accounts, deciding upon mergers and acquisitions, and deciding executive compensation.

Corporate resolutions are formal declarations of major decisions made by a corporate entity. The resolutions are used to determine which corporate officers are legally able to sign contracts, make transfers or assignments, sell or lease real estate, and make other important decisions that bind the corporation.

Once you have finalized your corporate resolution, the person who brought the decision to the board or whoever will be charged with enacting it must sign. This is generally a board member or a corporate secretary.

A corporate resolution by which an action may be approved without a physical meeting of the directors/shareholders. The resolution is typically signed by each signer and then sent to the others for signature.

Page 1. RESOLUTION OF AUTHORITY. Resolutions of Authority name an individual that is authorized to act on behalf of a Corporation, Partnership, or Company. Complete ONLY the Resolution which matches the structure of the business.

The Resolution should state the name of the person authorized to sign the contract. If the Resolution only states the title of the officer so authorized, a Certification by a corporate officer must be provided certifying that the individual signing the contract held that office at the time the contract was signed.

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Puerto Rico Signature Authorization - Unanimous Written Consent Regarding Resolution Authorizing Bank to Honor Instruments Bearing Facsimile Signatures