Ontario Directors Resolution Approving Banking Resolution

Prepare a Borrowing Bylaw (Bylaw No. 2) with this downloadable template for an Ontario business corporation.

• Bylaw No. 2 sets out the power and authority of the corporation's Board of Directors to:
  • borrow money,
  • create debt obligations,
  • grant security to lenders on behalf of the corporation, and
  • to delegate those powers to committees or officers.
• The template is provided in MS Word format.
• Intended to be used only by corporations incorporated in the Province of Ontario, Canada.

Establish the borrowing powers of the directors of a Canadian business corporation with this downloadable Corporate Borrowing Bylaw form.

• In accordance with the requirements of the Business Corporations Act, the borrowing bylaw sets out the powers of the directors to:
  • borrow money,
  • create debt obligations,
  • grant security to lenders on behalf of the corporation, and
  • delegate those powers to committees or officers.
• The Corporate Borrowing Bylaw can be used for federal corporations and in the provinces and territories of Alberta, BC, Saskatchewan, Ontario, New Brunswick, Nunavut, Yukon and NWT.

Appoint a financial institution to act as bankers for a Canadian corporation with this Directors Resolution template.

Approval Required

Before the corporation sets up its bank accounts, the choice of a bank must be approved by the directors. The bank will also require copies of the proper corporate approvals.

Who Can Use the Directors Resolution Template

This form can be used by any business corporation in Canada, whether incorporated federally or in one of the provinces that has Business Corporations Act legislation.

Format and Applicability

The template is available in MS Word format. It is easy to use, fully editable, and can be reused whenever necessary. It is intended to be used only within Canada.

Prepare Annual Corporate Resolutions of the shareholders and directors of an Ontario corporation with these easy-to-use templates.

• The directors and shareholders can pass these Resolutions in lieu of a meeting, which allows them to deal with business generally handled at an annual meeting without actually holding the meeting.
• The Resolutions deal with the following items:
  • election of a new board of directors;
  • appointment of corporate officers;
  • approval of the financial statements;
  • appointment of the auditors or, alternatively, waiving the audit requirement.
• Available in MS Word format. Fully customizable to meet your needs.
• Intended to be used only in the Province of Ontario, Canada.

Prepare a Directors Resolution declaring a dividend of company property with this easy template for an Ontario corporation.

• The corporation wishes to dividend certain property that it owns to the shareholders, under subsection 38(1) of the Ontario Business Corporations Act.
• The corporation will not be insolvent or unable to pay its debts and liabilities as a result of the dividend.
• The directors set the monetary value of the property dividended, based on its determined value.
• The Ontario Directors Resolution Declaring Dividend of Company Property is downloadable and fully editable.