Below is information about CORPORATE RESOLUTIONS REGARDING LOANS TO OFFICERS from a variety of sources. Please take a look at the materials that our team has selected for you.
https://www.lawinsider.com/clause/loans-to-officers
the corporation may lend money to, or guarantee any obligation of, or otherwise assist any officer or other employee of the corporation or of its subsidiaries, including any officer or employee who is a director of the corporation or its subsidiaries, whenever, in the judgment of the board of directors, such loan, guarantee or assistance may …
https://www.jstor.org/stable/40683336
167, 192 S. E. 545 (1937), the court reaffirmed that a corporate loan to a director is not, in the absence of fraud, inherently illegal. How- ever, although a director or officer, unlike a trustee,2 is not precluded at common law from borrowing from his corporation, such borrow- ings are subject to close scrutiny. Even at common law, exorbitant
https://taxes.uslegal.com/articles/irs-treatment-of-loans-to-officershareholder/
The court outlined certain conditions beneficial for the taxpayer to demonstrate in order for the funds to be treated as a loan, including (1) the existence of corporate records indicating that the corporation itself considered the transfer to be a loan; (2) tax returns filed by the corporation indicating amounts due on loans to shareholders.
https://www.mycorporation.com/products/corporate_resolutions/samples/autborcr.jsp
This resolution indicates that the members (LLC) or Board of Directors (Corporation) have held a meeting and conducted a vote allowing the company to borrow a specific loan amount. The borrowing resolution states which officers are authorized within the company to borrow and the bank where the company may borrow this specific sum.
https://www.mycorporation.com/products/corporate_resolutions/samples/loafun.jsp
1 Select a resolution Choose the document you need from our list of over 60 free corporate resolution samples. 2 Fill in your details Replace the highlighted sections of the document with the details relevant to your business. 3 Download your resolution
https://www.contractscounsel.com/t/us/corporate-resolution
Below is list of examples of corporate actions that usually require a corporate resolution: Approval of new board members and officers Acceptance of the corporate bylaws Creation of a corporate bank account Designating which board members and officers can access the bank account Documentation of a shareholder decision
https://www.legalnature.com/guides/the-basics-of-corporate-resolutions
Corporate resolutions are formal declarations of major decisions made by a corporate entity. The resolutions are used to determine which corporate officers are legally able to sign contracts, make transfers or assignments, sell or lease real estate, and make other important decisions that bind the corporation. Table of Contents
https://www.docracy.com/4loz8chd1y/corporate-resolution-for-borrowing-ppdd
That the promissory notes, and any other certifications of indebtedness as well as any other warranties, bonds, indentures, and other agreements which may be required by Enter the name of bank, may be signed on behalf of the corporation by its Enter title of official to sign papers/negotiate, Enter name of officer to sign papers/negotiate.
https://www.diligent.com/insights/compliance/sample-corporate-resolution-signing-authority/
These resolutions are passed by the board, officially recorded by a corporate secretary and filed among a company's official records. The corporate resolution for signing authority is a specific corporate resolution that authorizes specific corporate officers with the legal standing to sign contracts on behalf of the corporation.
https://www.fundera.com/blog/corporate-resolution
The following types of decisions require corporate resolutions: Approve new board members Hire C-level officers Formally accept the company’s articles of incorporation and corporate bylaws Approve changes to the corporate bylaws Issue new shares of stock Buy or sell business property Set up a business bank account
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