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:
