Action by Unanimous Written Consent of the Shareholders to Approve Organizational Statement, Elect Officers, Approve Corporate Seal, Approve Shareholder Certificate, Approve Corporate Bank Account, and Authorize Payment of Organizational Expenses
What is this form?
This form, known as the Action by Unanimous Written Consent of the Shareholders, is designed for corporate shareholders to take collective action without holding a formal meeting. It allows shareholders to approve various organizational decisions, including the organizational statement, the election of officers, and the authorization of a corporate bank account. This form ensures that all shareholders provide their consent in writing, which can streamline the process compared to traditional voting methods during a meeting.
Form components explained
- Approval of the organizational statement of the company.
- Election of corporate officers such as the President, Secretary, and Treasurer.
- Adoption of the corporate seal.
- Authorization for share certificates to be issued.
- Permission to open corporate bank accounts.
- Authorization to pay for organizational expenses.
When to use this document
This form is typically used during the initial setup of a corporation when all shareholders agree on key decisions such as governance and business operations. It is ideal for situations where waiting for a meeting might cause delays in forming the business or executing plans. Use this form if your corporation is ready to formalize its structure and operations promptly.
Who can use this document
This form is intended for:
- Shareholders of newly formed corporations seeking to establish governance.
- Incorporators who need to finalize charter decisions without a formal meeting.
- Corporate officers looking to formalize their appointments and responsibilities.
How to prepare this document
- Identify and fill in the name of the corporation at the designated spots.
- Complete the section referencing your stateâs Business Corporation Law and date of the organizational statement.
- Name and address the elected officers, including the President, Secretary, and Treasurer.
- Adopt and include the corporate seal impression at the appropriate position.
- Authorize the opening of bank accounts and payment of organizational fees as outlined.
- Have all shareholders sign and date at the bottom, with the Secretary attesting to the signatures.
Does this form need to be notarized?
This form does not typically require notarization unless specified by local law. It is advisable to check with relevant state requirements to ensure compliance.
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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.
Mistakes to watch out for
- Forgetting to fill in all required fields accurately, particularly names and dates.
- Not obtaining all necessary shareholder signatures, which can invalidate the consent.
- Failing to properly adopt the corporate seal, if required by state law.
Why use this form online
- Convenience of completing the form from anywhere, at any time.
- Editability allows for easy adjustments before finalizing the document.
- Access to state-specific guidelines and legal advice ensures compliance with regulations.
