SHAREHOLDERS' RESOLUTION APPROVING LOANS TO OFFICERS / EMPLOYEES
Pursuant to a duly made, seconded, and adopted motion, the majority of shareholders of _______________________ (hereinafter referred to as Corporation) chose to adopt the resolution of the Board of Directors, dated _______________, and a copy of such resolution is attached to the minutes of this meeting, and
WHEREAS the Board of Directors recommended that said Corporation provide to _________________________, an officer of this Corporation, a loan in the amount of _________________________ dollars ($________) according to the terms and rates attached, such resolution is hereby approved and ratified, and it is further
RESOLVED that the Treasurer of said Corporation is hereby directed to disburse the aforementioned loan to ___________________________ on the terms and conditions set out in the above-cited resolution of the Board of Directors and that the Secretary of the Corporation is directed to attach a copy of the aforementioned resolution to the minutes of this meeting, and.
The undersigned, __________________________________, certifies that he or she is the duly appointed Secretary of __________________________ Corporation and that the above is a true and correct copy of a resolution duly adopted at a meeting of the shareholders thereof, convened and held in accordance with applicable law and the Bylaws of said Corporation on ___________________, and that such resolution, having been approved, is now in full force and effect.
IN WITNESS THEREOF, I have affixed my name as Secretary of _____________________________ Corporation and have attached the seal of _______________________ Corporation to this resolution.
Dated:________________________
_________________________
Secretary
Seal: