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BOARD OF DIRECTORS' RESOLUTION ADVISING FILING OF BANKRUPTCY AND CALLING SHAREHOLDERS' MEETING

BOARD OF DIRECTORS' RESOLUTION ADVISING FILING OF BANKRUPTCY AND CALLING SHAREHOLDERS' MEETING

 

WHEREAS, the Board of Directors of _________________________  (hereinafter referred to as Corporation) has determined that said Corporation is unable to meet its obligations as they become due in the usual course of business and can no longer continue in business profitably, and,

 

WHEREAS, the Board of Directors has been advised by the President of the Corporation that various creditors have threatened to prosecute their claims against said Corporation, it is

 

RESOLVED, that said Corporation file a voluntary petition in bankruptcy, and, it is

 

FURTHER RESOLVED, that a special meeting of the shareholders of said Corporation is hereby called to vote upon the recommendation that the Corporation file a voluntary petition in bankruptcy presented by the Board of Directors, said meeting to be held at the following time, date and place:

 

Time: ____________________________

 

Date: ____________________________

 

Place: ___________________________ and it is

 

FURTHER RESOLVED, that the Secretary of this Corporation is hereby instructed and directed to send immediate notice to all the shareholders of the special meeting of shareholders, which is to be held in accordance with applicable law and the Bylaws of this Corporation.

 

The undersigned, ______________________, certifies that he or she is the duly appointed Secretary of __________________________ Corporation and that the above is a true and correct copy of a resolution duly adopted at a meeting of the directors thereof, convened and held in accordance with law and the Bylaws of said Corporation on _________________, 19____, and that such resolution is now in full force and effect.

 

IN WITNESS THEREOF, I have affixed my name as Secretary of _________________ Corporation and have attached the seal of _____________________ Corporation to this resolution.

 

 

 

Dated: ______________________              ___________________________

                                                                    Secretary

 

   Seal:

 

 



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