The document will outline the scope of authority granted to the nominee, including the power to negotiate terms, execute agreements, and complete the transfer of assets or shares. It will also specify any limitations on the nominee’s authority and the duration of the appointment. The resolution must be adopted by a majority vote of the board and is often accompanied by a certificate of the secretary of the company attesting to the authenticity of the resolution and the fact that it was duly passed. This legal instrument ensures that the nominee’s actions are officially sanctioned by the company and provides a clear record of the board’s decision-making process regarding the sale transaction.
Board Resolutions where a Company is appointing a nominee pursuant to a sale transaction
KShs 3,500
A board resolution for the appointment of a nominee pursuant to a sale transaction is a formal document that records the decision of a company’s board of directors to appoint a specific individual or entity to act on behalf of the company in relation to a particular sale. This resolution is typically required when a company is selling a significant asset or a portion of its business and needs to designate a nominee to handle various aspects of the transaction.
