A corporate resolution documents actions and decisions of a corporation’s board of directors. The purpose of these resolutions is to create documents that hold the board accountable and that show licensing boards and regulators that the board is acting according to its responsibilities.
Elements of a Corporate Resolution
A corporate resolution should include:
- Date
- Title referencing the resolution’s purpose
- State where made
- Company name
- Resolutions detailing the issues resolved and measures the firm will take
- Relevant signatures
The format requirements vary by state but most contain the following:
- Business name
- Date, time and location
- Resolution details like purpose and planned actions
- Signatures of officers
Corporate Resolution Examples
The board of directors makes resolutions on key matters like:
- Appointing persons to open bank accounts and withdraw funds
- Approving new board members and officers
Resolutions are essential in demonstrating that a corporation remains independent from its owners by ensuring board decisions don’t conflict with owners’ interests.