Form with which the corporation officially records a resolution to change the corporation's name.
Virginia Resolution Regarding Corporate Name Change - Corporate Resolutions
Category:
State:
Multi-State
Control #:
US-0095-CR
Format:
Word;
Rich Text
Instant download
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How to fill out Resolution Regarding Corporate Name Change - Corporate Resolutions?
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FAQ
Backdating that is, giving retroactive effect to directors' resolutions has long been a common and useful corporate-housekeeping tool. If all backdating is illegal, then a lot of well-intentioned board members could be in trouble. Fortunately, most backdating is not illegal.
It can be prosecuted and punished (often with fines) if it violates the law. The chief advantages are that it can exist indefinitely, beyond the lifetime of any one member or founder, and that it offers its owners the protection of limited personal liability."
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.
A corporate resolution helps the corporation to remain independent from its owners by ensuring that the decisions made by the board and the corporate executives do not create a conflict of interest with the owners.
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 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.
Three forms of resolutions are available: ordinary resolution, special resolution, and unanimous resolution. There is no concept of special resolutions in Board meetings, and very few unanimous resolutions are also required. However, all three are covered in the case of general meetings.
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%.
Most corporate resolutions are created and signed at a corporate board meeting. Here's a typical process: The agenda for a board meeting is created before the meeting and sent to all board members, and the item to be resolved is included on the agenda.
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...
