Standard Resolution To Approve A Small Loan To A Director (Board Minutes)
Publisher one
Genie AIJurisdiction
England and WalesCost
Free to useRelevant sectors
Type of legal document
✉️ Board resolutionBusiness activity
Approve loan to directorA board resolution is a formal document that records the decisions made by a board of directors or shareholders. The resolution is used to provide evidence of the board's authority to take certain actions. The resolution may also be used to delegate authority to officers or employees of the company.
The template includes sections specifying the details of the loan, such as the amount, interest rate, repayment terms, and purpose of the loan. It also outlines any specific conditions or requirements that need to be met by the director. Additionally, the template may include provisions for any necessary shareholder approval or disclosure obligations that may arise from granting the loan.
By utilizing this template, the company's board can clearly document the decision to approve the loan and demonstrate adherence to legal and fiduciary responsibilities. The standardized format ensures that all necessary information is adequately captured, creating a transparent and well-documented resolution.
It is important to note that while this template provides a framework for the resolution, it is highly recommended to consult with a qualified legal professional to tailor the document to the specific circumstances and ensure compliance with any company-specific bylaws or articles of association, as well as any relevant financial regulations applicable to the specific company or director.
How it works
Try using Genie's Free AI Legal Assistant
Generate quality, formatted contracts with AI
Can’t find the right template? Create the bespoke agreement in minutes by conversing with our AI and tailoring to your needs
Let our Legal AI make edits for you
Ask Genie to edit your document in the same way you’d ask a paralegal. Genie makes track changes, and explains its thinking just like a junior lawyer would.
AI review
Can’t find the right template? Create the bespoke agreement in minutes by conversing with our AI and tailoring to your needs
Book your personalised demo now
Click here to book your personalised demo now.
Similar legal templates
Software Development Contract (Pro-Supplier)
This contract template outlines the terms and conditions of the software development project, ensuring clarity and defining the obligations and responsibilities of both parties involved. It covers various key aspects including the scope of work, deliverables, timelines, payment terms, intellectual property rights, confidentiality, liability, dispute resolution, and termination clauses.
The primary focus of this contract is to protect the interests of the software development supplier by clearly defining the services to be provided, ensuring timely payments, establishing ownership and protection of intellectual property rights, and limiting any potential liabilities. It offers provisions that enable the supplier to maintain control over the project and minimize risks associated with non-payment, project scope changes, or unauthorized use of their work.
By utilizing this legal template, software development suppliers operating in the UK can establish a legally binding agreement with their clients that sets forth clear guidelines and expectations, helping to mitigate potential disputes or disagreements throughout the course of the project.
Publisher
Genie AIJurisdiction
England and WalesSite Engineer Contract
This Site Engineer contract template is designed for a commercial site engineering organisation (or an individual site engineer) to use when contracting out their skills and services in exchange for payment. This contract sets out the type of site engineering and site-engineering-related services to be completed by the site engineer on behalf of the client, with consideration for expectations around quality and delivery timescales, as well as any mitigating circumstances. This contract allows for payment to be made by the client to the site engineering firm or individual site engineer on a weekly or monthly basis but can easily be edited to account for other payment schedules and could be altered to include bonuses conditional on performance. It can also be fully customised with the details of the two parties and the duration of the contract and can be printed, downloaded and edited freely as part of our mission to open source business legals. This is a template for contractors who fit outside of the UK's off-payroll working rules (IR35).