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LSDefine

Simple English definitions for legal terms

corporate resolution

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A quick definition of corporate resolution:

Corporate resolution: A corporate resolution is a written document that shows a decision made by the board of directors of a company. It is usually made during a board meeting and is recorded in the meeting minutes. The resolution is used to make important decisions like changing the ownership of the company, adding new board members, or selling company shares. It is also used to give permission to people to access company funds, sign checks, and get loans for the company.

A more thorough explanation:

A corporate resolution, also known as a board resolution, is a legal document that records a decision made by the board of directors of a corporation. This document is binding and outlines the actions that the corporation will take.

Corporate resolutions are typically made during board meetings and are recorded in the minutes of the meeting. They are used to make important decisions that affect the corporation, such as:

  • Changing the ownership structure
  • Voting in new board members
  • Selling company shares
  • Authorizing access to corporate funds
  • Signing checks
  • Acquiring loans on behalf of the corporation

For example, if a corporation wants to sell shares to raise capital, the board of directors would need to pass a corporate resolution authorizing the sale. This document would outline the terms of the sale and the actions that the corporation will take to complete the transaction.

Another example would be if a corporation wants to authorize a specific individual to sign checks on behalf of the corporation. The board of directors would need to pass a corporate resolution authorizing this action and outlining the specific terms and conditions of the authorization.

corporate raider | corporate takeover

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18:18
you cooked
dasfi0990ut1
18:22
She Paris on my Hilton
fedclerkhopeful
18:31
@sadpadresfan: are you still set on Cornell?
dasfi0990ut1
18:32
@fedclerkhopeful: did u get that uCHI A?
dasfi0990ut1
18:32
miss ya, worried about u (llama)
fedclerkhopeful
18:33
nope I got the WL
dasfi0990ut1
18:33
fk this cycle.
fedclerkhopeful
18:33
still prolly set on reapplying unless SLS comes in clutch
dasfi0990ut1
18:34
Good on you! LS will always be there. I hope either way it works out- IK it will! Keep ya head up!
fedclerkhopeful
18:34
thank you :)
18:35
is the 50~70% conversion rate for Cornell ii accurate?
dasfi0990ut1
18:35
:)
fedclerkhopeful
18:35
yep
[] ararara
18:36
@fedclerkhopeful: what are your goals?
[] ararara
18:38
You remind me of a friend of mine from back in the day. They came in at the top of their class at a T14 but reapplied before doing this to get HYS. They still didn't get it the second time with perfect stats. That stuff is competitive and what does it matter anyway? Just saying!
18:42
Sometimes I’m like yeah i could work for five years and get into Harvard but that’s sooo much work
18:42
No thank you!
dasfi0990ut1
18:43
@dubiously: same. in 5 years ill either be in prison for fraud or retired in the caymen islands
18:43
This white boy don’t miss u would swear u saw Luka
fedclerkhopeful
19:10
@ararara: appellate clerkship and then civil liberties law
fedclerkhopeful
19:11
And yes, I have near perfect stats and would regret going to a lower tier school when reapplying is a viable option
omelette
19:12
lower tier and its mfing cornell
[] ararara
19:27
Haha didn't realize you were admitted at Cornell not why I'm saying this haha. I've also seen a few people get H and one person get Y the second time around. Hopefully things just work out now but if it doesn't go your way the second time don't worry ✌️ you 🫵 are amazing! For the record though my housemate's friend who graduated from Cornell has an appellate clerkship.
[] ararara
19:28
@dubiously: 💀😵👻
when do we think FSU and UF will have all decisions out
19:37
I know a guy who got an appellate clerkship out of a regional t100. He’s old now but still
dasfi0990ut1
19:43
@dubiously: was it Kansas by chance?
19:44
Of course. Kansas is an appellate clerkship powerhouse
dasfi0990ut1
19:45
KS to the T14 by 2028!
[] ararara
19:47
@FumblingRightfulLemur: I would look back at last cycle ✌️❤️ but also actually wouldn't even pay attention that's usually when it happens haha
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