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A corporate resolution is a document issued by a board of directors, outlining a binding corporate action. [ 1 ] Resolutions may authorize routine transactions such as opening corporate accounts, or adopting a fictitious business name . [ 2 ]
In business or commercial law in certain common law jurisdictions, an ordinary resolution is a resolution passed by the shareholders of a company by a simple or bare majority (for example more than 50% of the vote) either at a convened meeting of shareholders or by circulating a resolution for signature.
The theory is that the board has a better knowledge of the situation, and the resolution is in effect their ideal solution, but it may not be in the interests of individual shareholders. Usually, the chairman of the EGM reads out and recommends the resolution to those present for approval, takes questions about the resolution from those present ...
A Special Resolution can be tabled at a Director's Meeting. The Ordinary Resolution requires the endorsement by a majority vote, sometimes easily met by partners' vote. The Special Resolution requires a 60, 70 or 80% of the vote as stipulated by the constitution of the company. Shareholders other than partners may vote.
A member either announces it at a meeting of the assembly, in which case the secretary is to record it in the minutes, or notifies the secretary outside of the meeting. In either case, the secretary is to include in the call of the next meeting the motion's text, often accompanied by the name of the person who intends to move it.
VIENNA (Reuters) -The U.N. atomic watchdog's 35-nation Board of Governors passed a resolution on Thursday again ordering Iran to urgently improve cooperation with the agency and requesting a ...
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