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. As such, they are legally binding for the company. They can also be requested by company’s shareholders or by the government authorities as part of a vetting process.
Board resolutions are usually created during board meetings and have to be approved by a majority of board members. They can also be ad hoc papers that are approved by a vote and approved by the board without the meeting. There are a variety of resolutions, such as motions to waive notice, minutes, or adjournment.
In a meeting the board will be discussing the proposed resolution to determine if any additional information or details are needed. A member of the board will then vote to approve the proposed resolution and a seconder will vote to second it. When the motion is seconded, the board will vote on it according to a procedure that is outlined in the bylaws of the organization. The votes are recorded in the minutes of board meetings by the corporate secretary. The final step is for the appropriate officers to endorse the resolution.
It can be difficult to draft and record a board resolution. However, knowing how to write one makes the process easier. By following a standard format and providing clear concise information boards can quickly and efficiently adopt resolutions that serve the organization’s needs. Make sure that your resolutions are legal and efficient by saving them in a secure online repository Board Management Software.