corporate resolution

Corporate resolution (also known as a board resolution) is a written legal document issued by the board of directors of a corporation documenting a binding decision made on behalf of the corporation. The corporate resolution will be adopted at a board meeting and can be found in the minutes of the meeting detailing the decisions made by the board. A corporate resolution generally involves major decisions such as the changing of ownership structure, voting in of new board members, or the sale of company shares. A corporate resolution is also generally used to authorize people to access corporate funds, sign checks, and acquire loans on behalf of the corporation.

[Last reviewed in January of 2022 by the Wex Definitions Team]

Keywords

• llcs-corporations-partnerships

Wex

• COMMERCE
• business law
• business organizations
• corporations
• wex definitions
• business sectors