What is Board Resolution?
Board Resolution is a written document or statement that records a decision or action made by a Board of Directors during a board meeting.
The board resolution can be found in the minutes book of the Company.
Board resolution may sometimes also be referred to as Director Resolution, or Company Board Resolution.
The Board of Directors of a company is responsible for deciding and making major commercial decisions for and on behalf of the Company. Some decisions passed in the form of Board Resolution are as follows:
- Opening & operation of a bank account (sample of board resolution)
- Purchase of property for business use
- Purchase of company’s motor vehicle
- Application of banking facilities with the banks
- Payment of dividends
- Election of new members or Appointment of new director
- Acceptance of the resignation of board members
- Other business matters
You may also like: