Docstoc

CorpDocs-Board_Resolution_Skipping_A_Dividend

Document Sample
CorpDocs-Board_Resolution_Skipping_A_Dividend Powered By Docstoc
					[From: Free Document Downloads at TheSmallBusinessOwnersManual.com]


This document should be used by the Board of Directors when
skipping a dividend.


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.


For additional assistance mailto:LegalHelp@TheSmallBusinessOwnersManual.com or
call 888/872-6601)


Otherwise the following text should be reviewed and edited as needed:
         BOARD OF DIRECTORS' RESOLUTION SKIPPING A DIVIDEND


Upon a duly made, seconded and unanimously carried motion, the Board of Directors of
this Corporation adopted the following resolution:
       WHEREAS, it is the concern of the Board of Directors that this Corporation may
       be required to seek borrowed funds in the next fiscal year and that such a
       requirement may require the Corporation to present to a borrower a financial
       statement showing a substantial surplus account, it is hereby:

              RESOLVED, that a regular dividend will not be declared on the common
              stock of this Corporation for the [N] quarter of [N], and that the amount so
              saved is to be retained by the Corporation in its surplus account.

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

				
DOCUMENT INFO
Shared By:
Tags: corpdox
Stats:
views:9
posted:8/21/2012
language:English
pages:2