How to prepare legal forms (click here)

Board Of Directors' Resolution Authorizing Conversion Of Excess Depreciation To Surplus

Pursuant to a duly made, seconded and unanimously carried motion, the Board of Directors of this Corporation adopted the following resolution:

WHEREAS _________________________ dollars ($_________) has been assigned to the depreciation account on the Corporation's books for the period running from the _________ day of _________________, 20 ____ to the ________ day of ___________, 20 ____, and

WHEREAS _________________________ dollars ($________) were assigned to the reserve for depreciation and the value of the real property upon which the above-mentioned depreciation and reserve for depreciation charges and credits were made has been determined by the independent appraisal firm of to be ______________________________ dollars ($__________), it is hereby

RESOLVED that a transfer on the Corporation's books _________________________________ dollars ($_________) from the Corporation's reserve for buildings account to the Corporation's surplus account will be made by the Treasurer of said Corporation..

The undersigned, ____________________________, 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 directors thereof, convened and held in accordance with law and the Bylaws of said Corporation on __________________, 20 ___, and that such resolution is now in full force and effect.

IN WITNESS THEREOF, I have affixed my name as Secretary of _________________ ___________________ Corporation and have attached the ______________________ ___________________ Corporation to this resolution.

Date:_________________________ _________________________

Secretary

Seal: