Entities rely on corporate resolutions to identify the corporate officers legally responsible for signing contracts, selling/ leasing real estate, making transfers or assignments. These corporate resolutions allow corporations to make important, legally binding decisions. Issues that require a paper trail of documentation — via corporate minutes or resolutions — include:
- Authorizing loans or lines of credit
- Issuing stock to new or existing shareholders
- Purchasing property or approving a lease
- Adopting stock options or retirement plans
- Changing insurance or fringe benefit plans
- Maintaining a record of shareholder/ director meetings
Because corporate resolutions drive decision-making — and help corporations comply with bylaws, articles of incorporation, and other regulations — it makes good sense to have a lawyer review them. We can ensure the documents’ accuracy and completion while making adjustments to accommodate your corporation’s specific needs.