Resolutions & Meetings - Posted by Bronchick
Posted by Bronchick on January 24, 2001 at 13:40:27:
By your questions, I assume you used a “cheapie” service to incorporate your business. That is fine, but they don’t tell you what to do from there.
A corporation must have one annual meeting of the directors and a meeting of the shareholders. A resolution is required for each property purchased, unless your company is in the business of buying and selling properties (as stated in your articles of incorporation and by laws); in that case, the purchase or sale of real property is in the ordinary course of business, which does not require a resolution.
A resolution is a decision made by the corporation’s board of directors at a duly called meeting. You can just do a written resolution in lieu of a meeting if the decision is unanimous and such a resolution is permitted in the by laws.