10 Free Corporate Resolution Form Template

Corporate Resolution Form is a formal statement by a company’s board of directors documenting a binding business decision. This document functions as a legal record, outlining specific actions authorized by the Council of Directors during a meeting.

The role is crucial in company operations as it provides a clear record created by the company’s representatives. It provides transparency and accountability and delivers a reference for the future. It can cover various decisions, from financial matters and contracts to structural changes and policy updates.

The form is a key tool in corporate governance, providing that all significant findings are created with the full knowledge and acceptance of the commission.

Why they are so important

It plays a pivotal role in the functioning of a business, particularly in the decision-making processes. Here’s why they are so critical:

1. Legal Compliance: They are a legal requirement for corporations. They serve as a formal form of determination created by the committee of directors, providing that the company complies with corporate governance laws and regulations.
2. Transparency: These forms provide transparency in the decision-making process. They record the decisions, the directors involved, and the decision date. This transparency is crucial for accountability and can help prevent disputes or misunderstandings.
3. Record Keeping: These are essential to a company’s records. They provide a historical record of the decisions created by the committee, which can be useful for future reference, particularly in the event of audits or legal proceedings.
4. Decision Making: These forms play a crucial role in the decision-making process. They ensure that all decisions are made formally and with the full knowledge and approval of the board. It can help ensure all decisions are in the company’s best interest.
5. Clarity: Corporate Resolution Forms clarify what decisions have been made and who has the authority to carry out those decisions. It can help prevent confusion and ensure everyone in the company is on the same page.

Corporate Resolution Forms are a vital tool in corporate governance. They ensure legal compliance, provide transparency, aid in record keeping, facilitate decision-making, and provide clarity, making them indispensable for any corporation.

Uses of Corporate Resolution Forms

Here are some of the most common uses of Corporate Resolution Forms:

1. Authorizing Specific Actions: One of the primary uses of a Corporate Resolution Form is to authorize specific actions. It could be anything from opening a bank account in the company’s name to entering into a specific contract or agreement. The form will detail the action to be taken and specify who is authorized to carry it out.
2. Buying Properties: When a corporation decides to purchase property, a Corporate Resolution Form is often used to formalize the decision. The form will detail the property to be purchased, the purchase price, and who is authorized to complete the transaction.
3. Sealing Deals: When a corporation enters into a deal or agreement with another party, a Corporate Resolution Form is used to document the decision. This form will detail the terms of the deal and specify who is authorized to sign the agreement on behalf of the corporation.
4. Borrowing Money: If a corporation borrows money from a bank or another source, the decision is often formalized using a Corporate Resolution Form. The form will detail the amount of money to be borrowed, the terms of the loan, and who is authorized to enter into the loan agreement.
5. Electing Officers or Directors: When a corporation elects new officers or directors, the decision is documented using a Corporate Resolution Form. The form will list the names of the individuals elected and their new positions within the corporation.

Corporate Resolution Forms are a versatile tool used to document various corporate decisions. They provide a formal, legal record of these decisions, ensuring transparency and accountability within the corporation.

How to create a Corporate Resolution Form

Creating a Corporate Resolution Form is a systematic process that involves several steps to ensure the legality and validity of the document. Here’s a step-by-step guide on how to create a Corporate Resolution Form:

1. Call a Board Meeting: The first step in creating a Corporate Resolution Form is to call a board meeting. It is because corporate resolutions are typically made during such meetings. The meeting should be scheduled according to the corporation’s bylaws, which usually require a notice sent to all board members in advance.
2. Discuss the Matter: The matter that requires a resolution during the board meeting should be thoroughly discussed. All board members should be able to voice their opinions and ask questions. It ensures that the decision is made collectively and that all board members are on the same page.
3. Vote on the Resolution: A vote should be taken once the matter has been discussed. Depending on the corporation’s bylaws, the resolution may need to be passed by a simple majority, a two-thirds majority, or a unanimous vote. The results of the vote should be recorded.
4. Draft the Resolution: After passing the resolution, it should be written down as a Corporate Resolution Form. The form should include the date and location of the meeting, a statement that a quorum was present, the exact wording of the resolution, and the results of the vote.
5. Sign and Notarize the Resolution: The board members should sign the Corporate Resolution Form at the meeting. In some cases, it may also need to be notarized to verify the authenticity of the signatures.
6. Record the Resolution: The Corporate Resolution Form should be recorded in the corporation’s minute book. It ensures that there is a permanent record of the resolution.

Creating a Corporate Resolution Form is an important process that helps corporations make and document important decisions. Corporations can ensure their resolutions are valid and legally binding by following these steps.

Key Components of a Corporate Resolution Form

It serves as a legal record and can be used to demonstrate the board’s approval of certain actions. Here are the key components that typically make up a Corporate Resolution Form:

1. Title of the Resolution: The title should clearly state the resolution. For example, “Resolution to Open a Bank Account” or “Resolution to Purchase Real Estate.”
2. Date and Location: The date and location of the board meeting where the resolution was passed should be included. It provides a record of when and where the decision was made.
3. Statement of a Quorum: A quorum is the minimum number of board members present for the meeting to be valid. The resolution should include a statement that a quorum was present at the meeting.
4. Exact Wording of the Resolution: The resolution should be written in full. It should include the exact decision that was made, as well as any specific details relevant to the decision.
5. Results of the Vote: The results of the vote on the resolution should be recorded. It typically includes the votes for and against the resolution and any abstentions.
6. Authorized Individuals: If the resolution authorizes certain individuals to take specific actions, these individuals should be named in the resolution. Their roles and the actions they are authorized to take should be clearly defined.
7. Signatures: The board members should sign the resolution at the meeting. In some cases, it may also need to be notarized.
8. Certification: Finally, the resolution should include a certification that the resolution was duly adopted and is currently in effect. The corporation’s secretary typically signs this.

By including these key components, corporations can ensure that their Corporate Resolution Forms are comprehensive, clear, and legally binding.

What to Avoid in Writing Corporate Resolution Forms

It’s a document that records the decisions made by a corporation’s board of directors, and as such, it should be free from errors and ambiguities. Here are mistakes to avoid when creating:

1. Using Passive Voice: Passive voice can create sentences that are easier to comprehend. Always use active voice when composing a Resolution to ensure clarity. For example, instead of “The board passed the resolution,” write, “The board passed the resolution.”
2. Ambiguous Words or Phrases: Avoid using that can have multiple interpretations. Be as specific as possible to ensure the resolution’s intent is clear.
3. Unnecessary Wordiness: Keep the language simple. Remember, the goal is to communicate the board’s decision clearly and concisely.
4. Repetitive Words: Repetition can make the document tedious and harder to read. Try to vary your language and avoid repeating the same words or phrases.
5. Lack of Detail: Each resolution should include enough detail to stand independently. Refrain from assuming the reader can access other documents or information providing additional context.
6. Forgetting to Include Necessary Signatures: It typically needs to be signed by the board members at the meeting. In some cases, it may also need to be notarized. Include all necessary signatures to ensure the document is legally binding.

By avoiding mistakes, you can make a Corporate Resolution Form that is clear, concise, and legally sound.

Corporate Resolution Form Template

It provides a structured format that you can easily customize to suit your needs. Here are a few types of Corporate Resolution Form templates that might be useful:

General Corporate Resolution Form Template

 

This basic template covers a broad scope of decisions that a corporation’s board of directors might make. It contains areas for the date, decision, and committee members’ signatures.

Corporate Banking Resolution Form Template

 

This template is specifically designed for decisions related to the corporation’s banking activities, such as opening a new account or authorizing specific individuals to access the account.

Corporate Resolution to Sell Property Form Template

 

If the corporation plans to sell a piece of property, this template can help. It has areas for the property details, the sale price, and the buyer.

Corporate Resolution to Borrow/Lend Money Form Template

 

This template is designed for decisions related to borrowing or lending money. It has areas for the amount of money, the terms of the loan, and the parties involved.

 

Corporate Resolution Form Florida

Corporations in Florida use this form to document significant decisions made by the board of directors. It’s a critical part of maintaining corporate records in Florida and is often required when conducting business transactions, such as opening bank accounts or entering into contracts.

 

Corporate Resolution Form for LLC

This document outlines the decisions made by a Limited Liability Company (LLC) member. It serves as a formal record of decisions and actions agreed upon by the members. It authorizes certain actions, such as opening bank accounts, borrowing money, or purchasing property.

 

Corporate Resolution Form Georgia

 

In Georgia, corporations use this form to record important decisions made by the board of directors. It’s a legal requirement in Georgia for corporations to maintain a written record of all corporate resolutions.

 

Corporate Resolution Form Ohio

It is a document used by corporations in Ohio to record major decisions made by the board of directors. It’s a legal requirement in Ohio for corporations to keep a written record of all corporate resolutions.

 

Corporate Resolution Form Texas

Similar to Ohio, corporations in Texas use this form to document significant decisions made by the board of directors. It’s a crucial part of maintaining corporate records in Texas and is often required when conducting business transactions, such as opening bank accounts or entering into contracts.

 

These templates can be customized to fit your exact requirements. They can ensure that your Corporate Resolution Form is professional, clear, and detailed.

Remember that these templates should be used as a starting point. You should consult a legal professional to ensure your Corporate Resolution Form meets all legal requirements and adequately represents the board’s decisions.

 

Conclusion

These are pivotal in business transactions and decision-making processes. They serve as an official record, providing clarity and transparency for all stakeholders.

These forms are used in various situations, from authorizing specific actions to sealing deals. They typically include details of the decision; the people authorized to act, and an outline of the document. It’s crucial to avoid common mistakes when creating these forms, such as using passive voices, ambiguous words or phrases, unnecessary wordiness, and repetitive words.

Templates can be a valuable tool in creating Corporate Resolution Forms. They provide a structured format that can be customized to suit specific needs, simplifying the process and providing that all required information is contained.

However, consulting with a legal professional is always advisable to confirm that the form meets all lawful conditions and adequately represents the board’s decisions.

FAQs

What is a Corporate Resolution Form? 

It is a record that documents decisions made by a corporation’s committee of leaders. It helps as an authorized record and is often needed by banks and other institutions to verify that the corporation has authorized a specific action.

Who can create a Corporate Resolution Form? 

It is typically created following a board of directors meeting. The form is usually prepared by the company’s secretary or another administrator and then marked by the committee associates at the conference.

When is a Corporate Resolution Form needed? 

It is needed whenever the board of directors makes a significant decision that requires formal documentation. It could include decisions about opening a bank account, buying property, or joining a new business agreement.

Can a Corporate Resolution Form be changed? 

Once signed, it becomes a formal form of the decision created by the committee of leaders. If the board wants to change the decision, they typically need to hold another meeting and create a new Corporate Resolution Form.

What happens if a Corporate Resolution Form is not used? 

Without a Corporate Resolution Form, there may be no formal record of the board’s decisions. It could lead to confusion or disputes later on. In addition, banks and other institutions often require a Corporate Resolution Form to verify that the corporation has authorized a specific action.