DIY Legal Forms

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Approving Loans To Officers & Employees

Pursuant to a duly made, seconded, and adopted motion, the majority of shareholders of [Name] (hereinafter referred to as Corporation) chose to adopt the resolution of the Board of Directors, dated [Date], and a copy of such resolution is attached to the minutes of this meeting, and

WHEREAS the Board of Directors recommended that said Corporation provide to [Name], an officer of this Corporation, a loan in the amount of $------ according to the terms and rates attached, such resolution is hereby approved and ratified, and it is further

RESOLVED that the Treasurer of said Corporation is hereby directed to disburse the aforementioned loan to [Name] on the terms and conditions set out in the above-cited resolution of the Board of Directors and that the Secretary of the Corporation is directed to attach a copy of the aforementioned resolution to the minutes of this meeting, and.

The undersigned, [Name], 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 shareholders thereof, convened and held in accordance with applicable law and the Bylaws of said Corporation on [Date], and that such resolution, having been approved, 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: