[From: Free Document Downloads at TheSmallBusinessOwnersManual.com] This document should be used when the Board of Director’s appoints a new president. 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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Otherwise the following text should be reviewed and edited as needed:
BOARD OF DIRECTORS' RESOLUTION APPOINTING NEW PRESIDENT
Upon a duly made and seconded motion, a majority of the directors of the Board of Directors of [COMPANY NAME] Corporation voted to adopt the following resolution: RESOLVED, that [APOINTEE’S NAME] be appointed the President of the [COMPANY NAME] Corporation and as such that he or she is authorized to carry out the ordinary business of the Corporation, including, but not limited to, the following: (1) hire, fire, supervise, promote, demote and set compensation of all employees, except that if compensation is to exceed [N] dollars ($[N]) per year, then the President shall be required to obtain authorization from the Board of Directors before offering such compensation to any existing or potential employee;(2) incur indebtedness necessary for the operation of the [COMPANY NAME] Corporation, except that if the total amount of all indebtedness incurred by the President will exceed [N] dollars ($[N]), then the President shall first obtain authorization from the Board of Directors before incurring any additional indebtedness; (3) collect moneys that are now or will become due to the Corporation. RESOLVED, that the President shall make reports to the Board every [N] month(s) and that those reports shall include a summary of all personnel decisions made by the president, an accounting of all moneys collected for the Corporation and an accounting of all indebtedness incurred by the President in the name of the Corporation. 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 the 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 [COMPANY NAME] Corporation