DIY Legal Forms

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Corporate Resolution For Borrowing

Corporate resolution to borrow from bank

In order to get a loan at a bank, the corporation must authorize the borrowing. This form can be used for this purpose. Please note that some banks will insist that their form be used although this form is adequate.

Corporate Resolution For Borrowing

A special meeting of the Board of Directors of [Corporation], was held on [Date], at [Address], pursuant to, and, upon a motion made regularly and in proper order, and seconded, the board of directors of [Corpoation]

do hereby agree:

That the corporation shall borrow the original principal sum of $------ from [Name] bank, under such terms and conditions, including the pledging of collateral for the loan, and the opening or maintaining of deposit accounts, and such other terms as may be needful or required.

That the promissory notes, and any other certifications of indebtedness as well as any other warranties, bonds, indentures, and other agreements which may be required by [Name] Bank, may be signed on behalf of the corporation by its President.

[dated]

[name of corporation]

By: [signature]

Secretary

[corporate seal]