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Board Of Directors' Resolution Authorizing Loans To Directors, Officers Or EmployeesPursuant to a duly made, seconded, and unanimously adopted motion, the Board of Directors of ______________ (hereinafter referred to as Corporation) adopted the following resolution: WHEREAS the President of said Corporation recommended that a loan to __________________, the _________________ of said Corporation be approved by the Board of Directors in his/her report dated ____________, 20 ___, and WHEREAS the aforementioned individual has been a valued officer of said Corporation for the a substantial length of time, and the Board believes it is in the best interests of the Corporation to assist in this time of his/her temporary financial difficulties, it is hereby: RESOLVED that the recommendation of the President of said Corporation be and hereby is adopted, and it is the Treasurer of this Corporation is hereby directed to lend, on behalf of the Corporation, _______________ dollars ($_________) to __________________ on the following terms and conditions: __________________________________________ __________________________________________ 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 seal of _______________ Corporation to this resolution. Date:_______________________ ______________________ Secretary Seal:
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