Board of Directors Resolutions (or Board of Directors Resolutions) are formal documents which outline and record the official decisions taken by a board of directors. They are therefore binding for the company. As part of the company’s verification process they could be requested by shareholders or government officials.
Board resolutions are usually created during board meetings and must be passed by a majority vote of board members. They may also be ad hoc documents that are voted on and approved by the board outside of the meeting. There are many different kinds of resolutions, including motions to waive notice, minutes, and adjournment.
At a board session, the board will first discuss the proposed resolution and decide the need for additional information or details need to be added. Then the member of the board will vote to adopt the resolution, and a second member will then support the motion. The board will then vote on the motion based on the procedure laid out in the bylaws of the company. The votes are recorded by the corporate secretary and are included in the board meeting minutes. The resolution is then signed by the appropriate officers.
It can be difficult to draft and record a board resolution. But, knowing how to write one can make the process much easier. With the same format, and providing concise and clear information the board can be in a position to quickly and efficiently pass resolutions that satisfy the needs of the company. Board Management Software will help keep your resolutions in a secure online repository. This will ensure that they’re efficient and legal.