A Board Resolution For Sale of Vehicle is a crucial corporate governance document used when a Canadian company needs to formally authorize the disposal of a vehicle from its assets. This document is typically required when the sale of the vehicle is material enough to warrant board approval, or when corporate policies require board authorization for asset disposals. The resolution must comply with both federal and provincial corporate laws, including the Canada Business Corporations Act or provincial equivalents. It includes specific details about the vehicle, the approved sale price, the authorized signatories, and any conditions of the sale. This document serves as official evidence of proper corporate authorization and is often required by purchasers, insurance companies, and vehicle registration authorities to demonstrate valid transfer of ownership.
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1. Company Information: Legal name of the corporation and registered office address
2. Meeting Details: Date, time, location of the board meeting, and confirmation of quorum
3. Directors Present: List of directors in attendance and those absent
4. Chair and Secretary: Identification of the meeting's chair and secretary
5. Vehicle Details: Complete description of the vehicle including make, model, year, VIN, and current condition
6. Sale Terms: Details of the proposed sale including price, payment terms, and buyer information
7. Resolutions: Specific resolutions being adopted by the board regarding the vehicle sale
8. Authorization: Names and titles of persons authorized to execute sale documents
9. Certification: Secretary's certification that the resolution was duly passed
1. Recitals: Background information explaining why the vehicle is being sold, used when context is important
2. Special Conditions: Any special terms or conditions of the sale, included when there are specific requirements
3. Related Party Disclosure: Required if the sale is to a related party or involves potential conflicts of interest
4. Tax Considerations: Included when specific tax implications need to be addressed
5. Additional Authorizations: Required when specific additional powers need to be granted beyond standard sale authority
1. Schedule A - Vehicle Details: Detailed specification of the vehicle including photographs, maintenance records, and condition report
2. Schedule B - Sale Agreement: Draft or final version of the vehicle sale agreement to be executed
3. Schedule C - Vehicle Documentation: Copies of current registration, insurance, and maintenance records
4. Appendix 1 - Board Meeting Minutes: Minutes of the board meeting where the resolution was passed
5. Appendix 2 - Vehicle Valuation: Independent valuation or market analysis supporting the sale price
Relevant legal definitions
Corporation
Board
Directors
Resolution
Vehicle
Sale Agreement
Purchase Price
Closing Date
Authorized Officers
Transfer Documents
Registration Documents
Bill of Sale
Vehicle Identification Number (VIN)
Certificate of Title
Purchaser
GST/HST
Provincial Sales Tax
Meeting
Secretary
Chair
Quorum
Signing Officers
Corporate Seal
Asset Register
Related Party
Board
Directors
Resolution
Vehicle
Sale Agreement
Purchase Price
Closing Date
Authorized Officers
Transfer Documents
Registration Documents
Bill of Sale
Vehicle Identification Number (VIN)
Certificate of Title
Purchaser
GST/HST
Provincial Sales Tax
Meeting
Secretary
Chair
Quorum
Signing Officers
Corporate Seal
Asset Register
Related Party
Clauses
Meeting Details
Quorum Confirmation
Board Authority
Vehicle Description
Sale Authorization
Price Approval
Payment Terms
Execution Authority
Document Authorization
Transfer Requirements
Tax Compliance
Officer Authorization
Certification
Further Actions
Registration Requirements
Asset Disposition
Corporate Records
Related Party Provisions
Condition Precedent
Regulatory Compliance
Quorum Confirmation
Board Authority
Vehicle Description
Sale Authorization
Price Approval
Payment Terms
Execution Authority
Document Authorization
Transfer Requirements
Tax Compliance
Officer Authorization
Certification
Further Actions
Registration Requirements
Asset Disposition
Corporate Records
Related Party Provisions
Condition Precedent
Regulatory Compliance
Relevant Industries
Automotive
Transportation
Fleet Management
Corporate Services
Logistics
Construction
Manufacturing
Agriculture
Mining
Real Estate
Retail
Wholesale
Professional Services
Relevant Teams
Legal
Finance
Operations
Administration
Compliance
Fleet Management
Asset Management
Corporate Governance
Procurement
Risk Management
Executive Office
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Corporate Secretary
Fleet Manager
Operations Director
Legal Counsel
Compliance Officer
Administrative Officer
Board Director
Finance Manager
Asset Manager
Procurement Manager
Risk Manager
Company Secretary
Executive Assistant
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