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Board Resolution to Grant Power of Attorney

Corporate Resolution Sample

The growth of a company leads to exciting opportunities, like acquisitions and expansion into new territories. As a result, it's critical to appoint an individual with the authority to sign legally binding documents on behalf of the business.

A corporate resolution to grant power of attorney is a legal status granted to a specific officer within an LLC or Corporation. They are authorized with the legal standing to sign contracts, ranging from employment contracts to real estate sales, on a wide variety of legal transactions impacting the company.

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Sample Corporate Resolution to Grant Power of Attorney

(Text Only Version)

COMPANY NAME

Board Resolution to Grant Power of Attorney

WHEREAS, the Corporation desires to grant signing and authority to certain person(s) described hereunder.

RESOLVED, that the Board of Directors is hereby authorized and approved to grant signing and authority to conduct business to any one of the following person(s): LIST OF INDIVIDUALS. The foregoing signing and authority granted shall include, but shall not be limited to, the execution of Deeds, powers of attorney, transfers, assignments, contracts, obligations, certificates, and other instruments of whatever nature entered into by this Corporation.

The undersigned hereby certifies that he/she is the duly elected and qualified Secretary and the custodian of the books and records and seal of COMPANY NAME,a corporation duly formed pursuant to the laws of the state of YOUR STATE and that the foregoing is a true record of a resolution duly adopted at a meeting of the DIRECTORS/MEMBERS and that said meeting was held in accordance with state law and the Bylaws of the above-named Corporation on MEETING DATE,and that said resolution is now in full force and effect without modification or rescission.

IN WITNESS WHEREOF, I have executed my name as Secretary and have hereunto affixed the corporate seal of the above-named Corporation this DAY OF THE WEEK, CURRENT MONTH of CURRENT YEAR.

SECRETARY NAME, Secretary


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What kind of information do I need to create a resolution to grant power of attorney?

The purpose of a resolution to grant power of attorney is to document the agreement made by the Board of Directors to allow an attorney to act on behalf of the business. When creating a resolution to grant power of attorney, you need to include the following information in the resolution form:

  1. The legal name of the corporation
  2. A list of individuals that the board of directors authorize and approve to grant signing and authority to conduct business for the corporation
  3. Signature of the undersigned certifying that they have power of attorney
  4. The state where the business is formed
  5. Information about the directors/members
  6. The date on which the agreement to grant power of attorney is made
  7. The current day, month, and year when the agreement is signed
  8. Signature and date signed

This resolution must document the actions that are authorized to be taken by the business and should be stored along with your corporate records.

Frequently Asked Questions

Power of attorney is a legal status. It may be granted to one person, known as the agent or attorney-in-fact, who has the power to act for another person known as the principal. The principal or the agent may sign a POA document to make decisions regarding the principal's property and finances. This document must be signed with a notary present.

Yes, a corporation may grant power of attorney. They may grant another professional or business, such as a law firm, the authority to execute deeds or additional documents on behalf of the corporation.

A corporate power of attorney (POA) template is a predefined form that a corporation can use to assign legal authority to an individual or another corporate entity to act on its behalf. It is used when the corporation needs to delegate decision-making capabilities for various business affairs.

These tasks can range from daily operations to specific transactions or legal matters. The template is structured to guide the corporation and outlaws the powers it intends to delegate. The document also specifies to whom the power is granted while ensuring compliance with relevant laws.

Corporate power of attorney is often necessary when critical decision-makers in a corporation are unavailable or incapable of executing their responsibilities. There are various reasons why a key decision-maker may not be available to decide for the corporation.

Some examples include travel, illness, or other circumstances. It also comes into play for business transactions that need localized representation or specific expertise. A POA provides a legal basis for the appointed agent to act and make decisions within the bounds outlined by the corporation. Certain legal decisions can not be made legally without a power of attorney.

Before using a corporate power of attorney, engaging a lawyer's expertise is strongly recommended for corporations. A lawyer can validate the legal aspects of the POA, ensure its alignment with required corporate governance standards, and confirm that it is suitably defined.

Moreover, legal counsel plays a crucial role in assisting the corporation to ascertain the extent of authority that should be delegated to the agent. A lawyer's valuable insights can help avoid potential legal pitfalls, ensuring the corporation's interests are adequately protected, and a power of attorney serves its intended purpose.

A corporate power of attorney can be amended as needed. The corporation retains the right to revoke or modify the conferred authority, ensuring the corporation's needs are always met. Any revocation or amendment should comply with existing laws and previously established agreements.

To make these changes enforceable, the corporation must document them formally. Notifying the designated agent and all relevant third parties about the initial power of attorney is critical. This written communication ensures legal validity and a clear understanding of the changed terms, thereby maintaining transparency and adherence to legal protocols.

A corporate power of attorney (POA) template is a structured document that delegates authority to an individual or another entity. This authority allows the appointed agent to act and make decisions on the corporation's behalf in accordance with the terms outlined in the POA.

The template provides the general structure and language used to create the document, which can then be customized based on the specific needs and circumstances of the corporation. It guides the corporation through specifying the exact powers that will be granted, the duration of the POA, and any limitations or conditions on the agent's authority.

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