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Resolution to Sell Corporate Shares

Sample Corporate Resolution

Before company shares may be sold or transferred from one person to another, the company must establish a resolution to sell corporate shares.

The sale of this stock must be approved by the company's board of directors. Afterwards, shares would be eligible to be sold from one person to another. Copies of this corporate resolution may also be distributed to stockholders.

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Sample Corporate Resolution to Sell Corporate Shares
(Text Only Version)


Resolution to Sell Corporate Shares

WHEREAS, FULL NAME has duly subscribed for
(NUMBER OF SHARES) shares of the common stock for the aggregate subscription price of PRICE (PRICE NUMERICAL), and

WHEREAS, the Board of Directors deems it to be in the best interests of the Corporation to accept said subscription; be it:

RESOLVED, that the Corporation does hereby accept the stock subscription of FULL NAME to purchase (NUMBER OF STOCKS) shares of the Corporation for PRICE (PRICE AMOUNT) and, it is

RESOLVED FURTHER, that upon tender of the subscription price, the Treasurer of the Corporation is to issue to FULL NAME, or his/her nominee,
(NUMBER OF SHARES) shares of the no-par value common stock.

The undersigned hereby certifies that he/she is the duly elected and qualified Secretary and the custodian of the books and records and seal of COMPANY NAME,a corporation duly formed pursuant to the laws of the state of YOUR STATE and that the foregoing is a true record of a resolution duly adopted at a meeting of the DIRECTORS/MEMBERS and that said meeting was held in accordance with state law and the Bylaws of the above-named Corporation on MEETING DATE,and that said resolution is now in full force and effect without modification or rescission.

IN WITNESS WHEREOF, I have executed my name as Secretary and have hereunto affixed the corporate seal of the above-named Corporation this DAY OF THE WEEK, CURRENT MONTH of CURRENT YEAR.


What kind of information do I need to create a resolution to sell corporate shares?

The purpose of any corporate resolution is to document the actions the board of directors will take on behalf of a corporation. When you create a resolution to sell corporate shares, you need to include the following information:

  1. The legal name of the corporation
  2. Number of shares of the common stock and price of shares
  3. Full name of the Treasurer of the corporation authorized to accept stock subscription, number of stocks for purchase, and subscription price
  4. If not the Treasurer, then full name of the nominee to which shares are to be issued
  5. The state where the business is formed
  6. Information about the directors/members
  7. The current day, month, and year when the agreement is signed
  8. Signature and date signed

This resolution must document the actions that are authorized to be taken by the business and the individuals who will be granted the power of attorney, and should be stored along with your corporate records.

Frequently asked questions

A letter of intent to sell shares is a simple, written document. It should clearly define the company and whom is selling and buying the shares. State the contact information for all the parties as well as the company's physical address and registered agent. It should be clear which shares are to be sold in the transaction. Enclose any additional legal terms for the deal as well.

Generally, there is a target date agreed on by the buyer for the sale of the shares. Write the letter of intent prior to this target closing date. If the buyer does not complete the legal agreement by this target date, there may be opportunities to renegotiate as agreed on by the buyer and the seller.

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