Board Resolution, sometimes called corporate resolution or directors' resolution is a formal document that outlines the decisions of an organisation's board of directors. This document is a sample board resolution outlining the various decisions taken by the board of directors on specific issues at a particular date.
As the board of directors are usually the highest body of management in most organisations (whether for profit or non-profit) they sometimes have to make decisions for the operations of the organisation.
Board of directors can be saddled with making strategic, tactical and operational decisions for the organisation. Decisions made by the board of directors are usually in the form of resolutions reached in meetings or signed by the required quorum of directors.
A board resolution formalises decisions made by the board of directors of an organisation and the actions related to those decisions. Sometimes called corporate resolution, a board resolution is a formal document issued by the board of directors.
There is no one method of writing a board resolution, as there can be many formats chosen by each organisation. However generally a board resolution will generally;
bear a date of resolution or meeting where decisions were taken
be written in formal language
outline each critical statement or decision
include required signatures
Why Board Resolutions are Required
Board resolutions are usually required for actions/decisions with significant consequences eg a change in officials, bank account setup, change in procedures etc
Board of directors of an organisation makes financial decisions and this can include decisions on operating a bank account or any other type of financial account.
This is a sample board resolution for different decisions taken by a company's board of directors. It can be adapted to suit the purposes of your organisation.
Resources, A. (2024). Board Resolution Sample [Nigeria]. Afribary. Retrieved from https://afribary.com/works/board-resolution-sample-nigeria
Resources, Africana "Board Resolution Sample [Nigeria]" Afribary. Afribary, 07 Mar. 2024, https://afribary.com/works/board-resolution-sample-nigeria. Accessed 20 May. 2024.
Resources, Africana . "Board Resolution Sample [Nigeria]". Afribary, Afribary, 07 Mar. 2024. Web. 20 May. 2024. < https://afribary.com/works/board-resolution-sample-nigeria >.
Resources, Africana . "Board Resolution Sample [Nigeria]" Afribary (2024). Accessed May 20, 2024. https://afribary.com/works/board-resolution-sample-nigeria