Document background
The Board Resolution For Forfeiture Of Shares is a critical corporate governance document used in the Netherlands when a company needs to formally document its decision to forfeit shares from a shareholder who has failed to fulfill their obligations, typically related to share payment or other statutory requirements. This document is essential for demonstrating compliance with Dutch corporate law, particularly the Dutch Civil Code (Burgerlijk Wetboek) and the company's articles of association. It should be used when all prerequisite steps have been taken, including proper notification to the defaulting shareholder and the expiration of any remedy periods. The resolution must contain specific details about the shares being forfeited, reference relevant legal provisions, and provide clear instructions for implementing the forfeiture. It serves as a permanent record of the board's decision and protects the company by ensuring proper corporate governance procedures are followed.
