06 35 DIRECTORS' RESOLUTION AUTHORIZING CORPORATE DEBT

• Jurisdiction: Arkansas
• Library: Arkansas Form Book - Complete (2023 Ed.)

06-35 DIRECTORS' RESOLUTION AUTHORIZING CORPORATE DEBT

"RESOLVED, that the Corporation is hereby authorized to borrow from its shareholders the sum of $[amount] with interest at [interest rate]% per annum, payable [terms of payment].

"RESOLVED, that the officers of the Corporation are hereby authorized and directed to issue promissory notes in the following amounts to the respective payees:

Payee	Principal Amount
[payee name]	$[principal amount]
[payee name]	$[principal amount]
...