Resolution - Authorization For Issuance Of Shares
Of Corporation In Exchange For Realty
Whereas, at a meeting of the board of directors of the __________(1)____________
Corporation (hereinafter sometimes referred to as the "Corporation"), it was resolved that the
Corporation accept the offer of _________(2)________ attached hereto, and issue __(3)__
percent of the authorized capital stock of the Corporation, fully paid and nonassessable; and
Whereas, _________(4)___________, as the sole owner of the real estate situated in the
City of ________(5)__________, County of ___________(6)____________, State of
______(7)________, has offered to sell to the Corporation the real estate, as more fully
described in the offer attached hereto, in return for __(8)___ percent of the authorized stock of
this corporation; and
Whereas, the real estate is valuable for the use and lawful purposes of the Corporation;
Now, therefore, be it resolved that the offer made by _______(9)_______ to the
Corporation is accepted. Resolved further that the secretary of the Corporation shall
promptly deliver to the offeror, a certified copy of the minutes of this meeting.
Resolved further that the president of the Corporation execute and deliver to the offeror,
_(10)_ certificates of stock for _(11)_ shares of the Corporation, which shares shall constitute
__(12)__ percent of the authorized capital stock of the Corporation fully paid and nonassessable,
on receipt from the offeror, of a warranty deed transferring the real estate to the Corporation.
Resolved further, that all prorations and adjustments for items including, but not limited
to, taxes, interest, insurance and rents, shall be made as of the date of the transfer according to
the local custom in the real estate industry.
By the Board of Directors, this Resolution is adopted this ______(13)______.
____________(14)______________
Chairman, Board of Directors
NOTICE:
The information in this document is designed to provide an outline that you can follow
when formulating business or personal plans. Due to the variances of many local, city,
county and state laws, we recommend that you seek professional legal counseling before
entering into any contract or agreement.
