Increase Surplus Account - Resolution Form - Corporate Resolutions
Understanding this form
The Increase Surplus Account Resolution Form is a legal document that allows a corporation's board of directors to authorize an officer or representative to increase the funds held in a surplus account. This form differs from other corporate resolutions by specifically addressing the management of surplus accounts, which are crucial for financial planning and stability within a corporation.
Key components of this form
- Name of the corporation
- Name and title of the authorized officer or representative
- Total amount of funds to be increased in the surplus account
- Signatures of the board of directors
- Certification by the secretary of the corporation
When this form is needed
This form should be used when a corporation decides to increase the amount of funds in its surplus account. This may occur during times of financial growth, when the company seeks to reinvest profits, or when preparing for future operational expenses. Completing this resolution helps ensure that the corporate finances are managed wisely and in accordance with the board's directives.
Who can use this document
- Corporate board members
- Corporate officers or representatives tasked with financial management
- Secretaries of corporations responsible for maintaining corporate records
Instructions for completing this form
- Fill in the name of the corporation at the top of the form.
- Identify and write the name of the officer or representative authorized to increase surplus funds.
- Specify the new total amount of funds that will be held in the surplus account.
- Ensure that all board directors sign the resolution to indicate their consent.
- The secretary of the corporation must certify the resolution by signing and dating the document.
Does this form need to be notarized?
In most cases, this form does not require notarization. However, some jurisdictions or signing circumstances might. US Legal Forms offers online notarization powered by Notarize, accessible 24/7 for a quick, remote process.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Common mistakes to avoid
- Failing to include all required signatures from the board of directors.
- Not specifying the correct total amount for the surplus account.
- Omitting the certification by the secretary, which may invalidate the resolution.
Benefits of using this form online
- Convenient access to a professionally drafted resolution template.
- Editable format allows for quick customization to suit your corporationâs needs.
- Reliable resource for ensuring compliance with legal standards.
Legal use & context
- Enhances the formal decision-making process within a corporation.
- Provides a clear record of corporate financial actions for future reference.
- Ensures transparency and adherence to corporate governance policies.
What to keep in mind
- The Increase Surplus Account Resolution Form is essential for authorizing financial increases in surplus accounts.
- Completing this form properly is vital for compliance with corporate governance standards.
- Be aware of state-specific requirements and common mistakes when using this form.
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FAQ
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Resolution letter is a document which is written for various purposes.If a certain member is unable to be present physically he/she can send a resolution to letter to present his/her decision on the matter.
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Step 1: Place a Resolution Number. Step 2: Write a Title for the Resolution. Step 3: Use Formal Language. Step 4: Clearly Indicate the Voted Resolution. Step 5: Include a List of Voting Board Members. Step 6: Have the President Sign the Resolution.
