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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 ]
The compensation offered to such Independent Directors in the form of "sitting fee" has also been increased from Rs. 20,000 (prescribed by Companies Act, 1956) to a maximum of Rs. 1,00,000/- per meeting. The requirements in Kenya are similar to those in India. (These are to be found in the Companies Act, Cap 486 Laws of Kenya).<George Kinyua, LL.B>
Resolutions are often preceded by "Whereas..." clauses that express reasons or justifications for the ensuing resolution. In law, a resolution is a motion, often in writing [note 1], which has been adopted by a deliberative body (such as a corporations' board and or the house of a legislature). An alternate term for a resolution is a resolve.
A dispute board (DB), dispute review board (DRB) or dispute adjudication board (DAB) is a forum for dispute resolution, typically comprising three independent and impartial persons selected by the contracting parties. The significant difference between Dispute Review Boards and most other techniques for alternate dispute resolution, potentially ...
Impact fees were found to decrease affordable housing by increasing the housing development cost. [12] Developers of new housing who pay the fees pass the cost of the fees onto the future property owners or renters. In some cases proceeds from impact and linkage fees are used to fund the construction of affordable housing residential developments.
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When an item is before the assembly for action, such as a resolution, it is the right of every member to have it read once. [13] Another case of this requirement is the reading of the minutes. Unanimous consent is required to not do the reading. Any member can request that the minutes be read and it would have to be done. [14]
S. Res. 480, a Senate resolution passed in 1984, [27] created a standing order of the Senate requiring that each senator vote from his or her assigned desk. The resolution was sponsored by Democratic Senator Jennings Randolph of West Virginia. However, the rule is widely ignored, and senators typically vote while milling about the Senate ...
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