Resolution of Meeting of LLC Members to Authorize Expense Accounts
Overview of this form
The Resolution of Meeting of LLC Members to Authorize Expense Accounts is a legal document that formalizes the authorization of specific expense accounts for members or officers of a limited liability company (LLC). This form differs from other resolutions by focusing specifically on the approval of credit accounts and associated expenses for business purposes, ensuring that all transactions are documented and comply with the company's operational agreements.
Key components of this form
- Company identification: Name of the LLC and state of formation.
- Resolution details: Authorization for an officer or member to establish a credit account.
- Expense specifications: Types of expenses covered, such as travel and entertainment.
- Names of authorized individuals: Specific members or officers permitted to use corporate credit cards.
- Meeting confirmation: Declaration that the resolution was properly adopted in accordance with state law and the operating agreement.
- Signatures: Spaces for the Secretary and other authorized members to sign and date the resolution.
When to use this form
This form is essential when an LLC needs to formally authorize certain members or officers to charge expenses to a corporate account. It is particularly useful during annual meetings or when establishing new expense policies, ensuring that all financial activities are approved and recorded. Use this form when planning for business travel, entertainment, or any expenses related to the company's trade or business.
Who needs this form
- Members of a limited liability company (LLC) who need to authorize expense accounts.
- Officers of the LLC responsible for managing finances and budgets.
- Secretaries of LLCs who are tasked with maintaining official company records.
Completing this form step by step
- Identify the company information, including the full name and formation state of the LLC.
- Specify the officer or member authorized to establish the credit account.
- Detail the types of expenses that the authorized individuals can charge to the account.
- Enter the names of all members/officers involved and the meeting details, including date and purpose.
- Have the Secretary sign and date the resolution to validate the document.
Notarization guidance
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.
Avoid these common issues
- Not including all required signatures, making the resolution invalid.
- Failing to accurately specify the types of expenses allowed.
- Leaving out crucial dates or meeting details.
Advantages of online completion
- Convenience of immediate download and completion.
- Editability allows for customization based on specific business needs.
- Reliable access to templates drafted by licensed attorneys.
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FAQ
An LLC resolution is a document describing an action taken by the managers or owners of a company, with a statement regarding the issue that needs to be voted on. This does not need to be a complicated document, and need only include necessary information.
A corporate resolution is generally required to document actions taken by the corporation, but when it comes to LLCs, resolutions are not mandated. Because of this, there is no specific or required way to draft an LLC resolution.
One of the most important formalities required of corporations is to hold annual shareholder meetings and to keep detailed reports of these meetings, known as annual meeting minutes.While there's no statutory requirement for LLCs to hold meetings, it may be required by your LLC's own operating agreement.
Unlike the articles of organization, an operating agreement generally is not required in order to form an SMLLC, nor is it filed with the state. Instead, an operating agreement is optionalthough recommended. If you choose to have one, you'll keep it on file at your business's official location.
Date, time, and place of the meeting. Owners or members present. The nature of business or resolution to discuss, including members added or removed, loans made, new contracts written, or changes in business scope or method.
Date, time, and location. Minutes should include this basic information about when and where the meeting was held and how long it lasted. Creator. List of persons present. Topics list. Voting record. Review and approval.
A corporate resolution is generally required to document actions taken by the corporation, but when it comes to LLCs, resolutions are not mandated. Because of this, there is no specific or required way to draft an LLC resolution.
An LLC (limited liability company) can be a convenient and easy way to structure your business, whether it is a sole proprietorship or a partnership. LLCs do not require a a president, a CEO, or a board of directors. The members of an LLC, however, have the option of choosing a president, a CEO, or managers.