Board of Directors Resolutions are formal documents that define and document the official decisions taken by the board of directors. They are, therefore, legally binding for the company. They may be requested by company’s shareholders, or by government officials as part of a vetting process.

Board resolutions are usually adopted at board meetings. They must be ratified by a majority vote of the board. They could be ad hoc documents that the board can vote on and approve outside of an official meeting. There are several different types of resolutions, which include motions to waive notice, minutes, and adjournment.

At a board meeting, the board will first discuss the proposed resolution and determine whether additional information or details should be added. Then one member of the board will propose to approve the resolution and another board member will vote to support it. After the motion is seconded the board will then vote on it using a method stipulated in the bylaws of the company. The votes are recorded in the minutes of board meetings by the corporate secretary. The https://boardnearme.com/virtual-board-rooms-revolutionizing-corporate-collaboration/ final step is for the appropriate officers to accept the resolution.

It can be a challenge to draft and record a resolution of the board. However, knowing how to draft one can make it easier. By using an established format and providing concise and clear information, the board is capable of quickly and efficiently adopt resolutions that meet the requirements of the business. Board Management Software will help you save your board resolutions in a secure, online repository. This will ensure that they are efficient and legal.