Virgin Islands Unanimous Written Consent of Directors of Corporation in Lieu of Organizational Meeting
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FAQ
A unanimous board resolution is an official decision made by the board of directors that requires every member to be in agreement. This consensus often signifies strong support for a proposed action, making it more likely to succeed. The Virgin Islands Unanimous Written Consent of Directors of Corporation in Lieu of Organizational Meeting provides a structured way for boards to achieve this unanimity efficiently.
Unanimous consent board resolution is a form of voting used by boards to take decisions on certain matters. It involves all directors voting the same way to pass the resolution and can occur during the board meeting, but can also happen between meetings.
When a group or a decision is unanimous, it means that everyone is in total agreement.
: place, stead. in lieu. : instead. in lieu of. : in the place of : instead of.
All eligible directors must either sign copies of the written resolution, or otherwise agree to it in writing. A sole director will usually make decisions by written resolution.
Shareholder action by written consent refers to corporate shareholders' right to act by written consent instead of a meeting. This type of consent avoids some of the negative characteristics of shareholder meetings.
Since written consents must be unanimous, they are also good evidence to third parties doing due diligence that a company's Board solidly supported a particular action.
Unanimous Written Consent means a written consent executed by at least one representative of each Member.
(a) Any action required or permitted to be taken at a meeting of the Board or the Members may be taken without a meeting if, prior or subsequent to the action, written consents describing the action to be taken are signed by each Director or Member, respectively, entitled to vote thereon.
Related Definitions unanimous resolution means a resolution which is unanimously passed at a duly convened general meeting of a body corporate at which all persons entitled to exercise the powers of voting conferred by or under this Act are present personally or by proxy or vote in writing at the time of the motion.