The South Carolina Resolution Regarding Corporate Name Change is a legal document that allows a corporation based in South Carolina to change its name. This resolution is a part of the Corporate Resolutions, which are written statements adopted by the board of directors or shareholders of a corporation to make decisions or authorize certain actions. The South Carolina Resolution Regarding Corporate Name Change includes specific details about the corporation such as its current legal name and the desired new name. It also requires the corporation to comply with the necessary legal procedures and regulations regarding the name change, including filing of appropriate documents with the Secretary of State. This resolution is crucial for a corporation that wishes to rebrand itself or update its name to better reflect its current direction, market position, or business objectives. It ensures that the process of changing the name is authorized and in compliance with South Carolina state laws. Different types of South Carolina Resolutions Regarding Corporate Name Change may include variations based on the specific circumstances of the corporation. For instance, there might be resolutions for non-profit corporations, closely held corporations, or publicly traded corporations. Each type may have its own unique requirements, such as obtaining approval from relevant stakeholders or complying with securities regulations. Overall, the South Carolina Resolution Regarding Corporate Name Change is a vital legal document that enables a corporation in South Carolina to change its name while adhering to the state's legal framework and ensuring proper compliance with relevant regulations.
South Carolina Resolution Regarding Corporate Name Change - Corporate Resolutions
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In fact, all states require C-corporations and S-corporations to issue corporate resolutions to document important board of director decisions. Resolutions are required even if you're the sole shareholder of your corporation and the only member of the board.
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.
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.
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.
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.
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.
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...
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%.
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.
