What Is a Board Resolution?
A board resolution offers a formal way for boards to document in writing a decision that the board of directors made. Board resolutions serve as a formal, legal record of certain important decisions. In addition, certain board resolutions serve as proof of compliance
A Board Resolution is a formal document that helps to identify the roles of corporate offices and the result of any votes or decisions the board makes regarding the company. Usually, they are written when a new member is voted into the board. But they are also used when and/or if the company wants to expand, hire, or let go of a large amount of workers; sell shares; buy any form of intellectual property rights; and/or any other major decision that will affect the company in a significant way.
Board Resolutions can be found in the board minutes, and provide an accurate record of decisions made at a board meeting.
Now that you understand what a Board Resolution is, you can create one of your own
The board resolution is written for banks to proceed the facility offered to the company, without board resolution the bank cannot proceed any financial support
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