What are Organizational Resolutions?
Also known as corporate resolutions, organizational resolutions are certain actions related to the organization and incorporation of a company that are taken or adopted by the Board of Directors during the corporation’s first meeting. For example, common resolutions include appointing officers, authorizing the issuance of shares to the stockholders, and adopting the bylaws.
When are Organizational Resolutions completed?
After you file the Articles of Incorporation and create the corporate bylaws, a common next step is to hold the company’s first meeting, which officially adopts the bylaws and executes the organizational resolutions. The organizational resolutions complete the organization of the company.
Basic List of Organizational Resolutions
These common actions are taken in the form of resolutions, stated below:
- Approve agent for service of process (or registered agent)
- Approve bylaws
- Appoint directors
- Elect officers
- Adopt corporate seal
- Adopt stock certificates
- Select corporate tax year
- Establish principal executive office
- Secure federal Employer Identification Numbers (EINs) and state tax IDs
- Select time(s) for Board of Directors meetings
- Select time for annual meeting of shareholders
- Authorize treasurer to open and use accounts
- Authorize corporate account and designation of authorized signer
- Pay expenses of incorporation
- Ensure securities law compliance
When you form a corporation or LLC with Active Filings, we provide you with all the resolution templates you need to keep your corporation or LLC in good standing. Start your corporation or LLC today!