What is it?
Corporate resolutions are the official documentation of specific actions taken by a corporation. Corporate resolutions are required to be filed when board members make decisions such as electing a new board member, selecting corporate officers, engaging in a joint venture, establishing a new location, selling shares or assets, and taking out a loan, among others.
Corporate resolutions are important data points that detail respective corporate decisions, their reasoning, as well as the date they occurred.
Should I complete one?
Resolutions are required for businesses operating as corporations, and filing requirements vary by state. Resolutions are beneficial if corporate decisions are challenged or in the event of an audit.
How to file?
Once you have incorporated your business and the state has processed your incorporation application, you will be contacted by one of our representatives to confirm all information is correct. Once they have confirmed all information, you will be sent a physical packet with documents that include corporate resolutions for you to use. Additionally, you will receive a follow-up email with a digital copy if you would like to make more copies.
We recommend reaching out to a consultant in order to understand the best industry practices related to storing corporate resolutions. If you do not have access to a consultant, GoSmallBiz offers consultation through the Guide Bundle! Check out more information here.