- corporate resolution
A written document that describes an action taken and approved by the board of directors of a corporation. For example, when a corporation issues a stock dividend, the declaration of the dividend is a corporate resolution. A board might also pass a resolution to take out a loan, buy or sell real estate, amend the corporate bylaws, or issue more stock. Resolutions are recorded with the corporate minutes.Category: Business, LLCs & Corporations → LLCs, Corporations, Partnerships, etc.
Nolo’s Plain-English Law Dictionary. Gerald N. Hill, Kathleen Thompson Hill. 2009.
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