CorpDocs-Board_Resolution_for_Borrowing_From_Designated_Bank

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This document should be used by the Board of Directors when
deciding to borrow from a designated bank.


The following text of this document should be reviewed and
edited to fit your purposes.


[Find, then fill-in, or delete text in brackets like this: “[NNN]”


If there are dates in this document, they will automatically change to today’s date.


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call 888/872-6601)


Otherwise the following text should be reviewed and edited as needed:
                     BOARD OF DIRECTORS' RESOLUTION
                  FOR BORROWING FROM DESIGNATED BANK


WHEREAS, it has become necessary for this Corporation to borrow money in order to
[N], it is hereby:

       RESOLVED, that [PRESIDENT’S NAME], the President of the Corporation, is
       hereby authorized to act for this Corporation and borrow from the Bank of
       [BANK’S NAME] the sum of [N] Dollars ($[N]) on the terms set out in the loan
       instrument attached to the minutes of this meeting, and to sign and execute that
       document and whatever other documents as may be necessary or required by the
       [BANK’S NAME] Bank to evidence such indebtedness from this Corporation to
       the [BANK’S NAME] Bank; and it is

       RESOLVED FURTHER, that the Secretary of the Corporation is to provide the
       [BANK’S NAME] Bank with a certified copy of these resolutions.

The undersigned, [N], certifies that I am the duly appointed Secretary of [COMPANY
NAME] Corporation and that the above is a true and correct copy of a resolution duly
adopted at a meeting of the Directors thereof, convened and held in accordance with law
and the Bylaws of said Corporation on [DATE], and that such resolution is now in full
force and effect.

IN WITNESS THEREOF, I have affixed my name as Secretary of [COMPANY NAME]
Corporation.


Dated: [DATE]


____________________
Secretary

				
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posted:8/21/2012
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