CORPORATE RESOLUTIONS

Overview

Corporate Resolutions maintained in proper form are vital to the continued existence of your corporation and to the protection of your directors and shareholders.

Corporate resolutions are exactly what the name implies — resolutions made by your directors and shareholders on behalf of the company. These resolutions can range anywhere from assigning a lease or authorizing a contract to selling real estate or terminating a certain lease.

Drafting and maintaining Corporate Resolutions while operating your corporation can sometimes be a tedious task.

Although MyCorporation cannot provide legal advice — we are not lawyers — we can provide you with some very useful, free, samples of corporate resolutions here on our website.

The Process

Please remember that MyCorporation, its agents, employees, advisors and representatives are not acting as your attorney and cannot provide you with legal advice.

However, you may find the use of our sample resolutions to be beneficial.

Corporate Resolution Sample Download: Please feel free to download as many samples as you need, except for re-sale or internet display.

Corporate Resolutions for Corporations and LLCs

MyCorporation provides you with some very useful, free, sample corporate resolutions. Please feel free to download as many as you need and to use them as you'd like (except for re-sale or internet display).

• Adopt a Fiscal Year
• Acquire Assets of a Business
• Acquire Shares of Stock
• Adopt a Trade Name
• Approve a Reorganization Plan under Chapter 11 of the Bankruptcy Code
• Appoint a Purchasing Agent
• Assign a Lease
• Authorize Borrowing on a Line of Credit
• Authorize a Specific Contract
• Authorize a Franchise Agreement
• Authorize a Sale/Leaseback Transaction
• Blanket Authority to Sell Assets
• Borrow Against Accounts Receivable
• Borrow Capital
• Borrow from a Designated Bank
• Borrow Against Inventory and Equipment
• Commence Litigation
• Convert Excess Depreciation into Surplus
• Defend in a Legal Suit
• Exercise Option to Extend a Lease
• Factor Accounts Receivable
• File a Reorganization Plan Under Chapter 11 of the Bankruptcy Code
• File a Reorganization Plan Under Chapter 7 of the Bankruptcy Code
• File for a Receivership
• Grant a Mortgage or Security Interest
• Indemnify and Hold Harmless
• Issue a General Release
• Issue a Guarantee
• Issue an Option to Purchase Shares
• Lease Equipment
• Lease as a Lessor
• Lease a Motor Vehicle
• Lease Premises
• Loan Funds
• Make an Assignment to Creditors
• Mortgage Real Estate
• Negotiate a Specific Contract
• Obtain a Corporate Charge Card
• Obtain a Certain License
• Open Bank Accounts
• Purchase Equipment
• Purchase a Motor Vehicle
• Purchase Real Estate
• Qualify as a Foreign Corporation in Another State
• Ratify Acts
• Ratify board of Directors Actions
• Reacquire and Redeem Outstanding Shares
• Reimburse Lender
• Hire an Employee
• Retain an Accountant
• Retain an Attorney
• Retain a Business Broker
• Retain a Professional Consultant
• Retain a Real Estate Broker
• Retain a Special Accountant
• Retain a Special Attorney
• Sell Corporate Assets Subject to Shareholder Approval
• Sell Business Assets
• Sell Corporate Shares
• Sell Certain Equipment
• Sell a Certain Motor Vehicle
• Sell Real Estate
• Settle Certain Litigation
• Sublet Space
• Terminate a Specific Contract
• Terminate a Certain Employee
• Terminate a Certain Lease
• Waive Restrictions on Transfer

Further Questions?

Corporate Resolutions record the major decisions taken by the corporation's Shareholders or Board of Directors during a meeting.

While not always required, it is a good idea to record your actions in the form of Corporate Resolutions because Resolutions show third parties that the actions were taken by, and on behalf of, the corporation.

Some Corporate Resolutions may be passed only by the Shareholders; others, only by the Board of Directors. Some must be passed by both groups.

As a general rule all records, resolutions and minutes of your corporation should be kept in your Corporate Minute Book for a period of no less than six years.

This is a good idea because sometimes a Shareholder will want to inspect the corporate books and records to ensure the corporation is being run in its best interests. It is probably wise to retain these records for a longer period should anyone ever challenge the actions of the Board of Directors.