PREPARATION OF 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 can also be referred to Directors’ Resolution, or company board resolutions.
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 Resolutions are as follows:
- Opening & operation of bank accounts
- Purchase of property for business use
- Purchase of company’s motor vehicle
- Application of banking facilities with the banks
- Payment of dividend
- Appointment of new directors
- Acceptance of the resignation of directors