Board Resolution
BusinessA formal document recording decisions made by a company's board of directors. Used for authorizing major actions such as opening bank accounts, issuing shares, or approving contracts.
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A formal document recording decisions made by a company's board of directors. Used for authorizing major actions such as opening bank accounts, issuing shares, or approving contracts.
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Key Clauses
- 1
Recitals
States the purpose and background of the meeting or written consent.
- 2
Resolution Text
The specific action or decision being authorized by the board.
- 3
Authorization
Identifies officers authorized to carry out the resolution.
- 4
Voting Record
Documents the vote count and any dissenting opinions.
- 5
Effective Date
Specifies when the resolution takes effect.
When You Need This
- Authorizing opening a new corporate bank account
- Approving the issuance of new shares or stock options
- Formalizing approval of a major contract or partnership
Frequently Asked Questions
What is a Board Resolution?
A formal document recording decisions made by a company's board of directors. Used for authorizing major actions such as opening bank accounts, issuing shares, or approving contracts.
What should a Board Resolution include?
A comprehensive board resolution should include: recitals, resolution text, authorization, voting record, effective date.
When do I need a Board Resolution?
Authorizing opening a new corporate bank account. Approving the issuance of new shares or stock options. Formalizing approval of a major contract or partnership.
Is this template legally binding?
Templates provide a strong starting point, but we recommend having important agreements reviewed by a qualified attorney in your jurisdiction to ensure they meet local legal requirements.
Can I customize this template?
Yes — all bracketed [placeholder] fields can be replaced with your specific information. You can also add, remove, or modify clauses to fit your particular situation.
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