Corporate Law
Board Resolution
A formal decision passed by a company's board of directors at a duly convened meeting, recorded in the minutes, authorising a specific action.
Certain decisions — like opening a bank account, entering into significant contracts, or approving financial statements — require formal approval by the board, recorded as a resolution, which serves as documentary proof that the action was properly authorised.
Third parties dealing with a company, such as banks, often insist on seeing a certified copy of the relevant board resolution before proceeding with a transaction.
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