[From: Free Document Downloads at TheSmallBusinessOwnersManual.com] This document should be used by the Board of Directors when approving a line of credit. 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 APPROVING CREDIT LINE
Upon a duly made, seconded and carried motion, the Board of Directors of [COMPANY NAME] Corporation, by a unanimous vote, adopted the following resolution: RESOLVED, that the President of this Corporation is hereby authorized to establish for the Corporation a credit line in the sum of [N] Dollars ($[N]), from the [BANK NAME] Bank, for and in behalf of this Corporation, on the terms set out in the Revolving Credit Agreement prepared by the [BANK NAME] Bank and attached to the minutes of this meeting. 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