A Board Resolution For Sole Proprietorship is an essential legal document in Nigerian business operations, particularly when a sole proprietor needs to formally document significant business decisions. While sole proprietorships don't have a traditional board structure, these resolutions are often required by banks, government agencies, and other institutions as evidence of the proprietor's authority and decision-making. The document is governed by Nigerian law, specifically the Companies and Allied Matters Act (CAMA) 2020, and can be used for various purposes including opening bank accounts, authorizing significant transactions, appointing representatives, or establishing business relationships. It typically includes detailed information about the business, the proprietor, and the specific decisions being made, and often requires proper witnessing or notarization to be legally valid.
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1. Title and Date: Specifies the type of resolution and date of execution
2. Business Information: Details of the sole proprietorship including registered name, registration number, and business address
3. Proprietor Information: Full legal name and details of the sole proprietor
4. Recitals: Background information explaining why the resolution is being made
5. Declaration of Authority: Statement confirming the proprietor's authority to make decisions
6. Resolution Items: The specific decisions or actions being authorized or undertaken
7. Certification: Statement certifying that the resolution is true and accurate
8. Execution: Signature block for the proprietor and witness(es)
1. Banking Resolutions: Include when the resolution relates to banking matters, such as opening accounts or authorized signatories
2. Property Matters: Include when the resolution involves property acquisition, lease, or disposal
3. Power of Attorney: Include when delegating specific powers to another individual
4. Special Declarations: Include when specific declarations are required by third parties or regulatory bodies
5. Compliance Statements: Include when demonstrating compliance with specific regulations or requirements
1. Business Registration Certificate: Copy of the business registration certificate from CAC
2. Identification Documents: Copies of the proprietor's identification documents
3. Supporting Documents: Any relevant documents supporting the decisions in the resolution
4. Specimen Signatures: When resolution involves banking matters, specimen signatures of authorized persons
5. Previous Resolutions: Copies of any previous resolutions being amended or referenced
Relevant legal definitions
Business
Proprietor
Resolution
Authorized Person
Business Premises
CAC
CAMA
Business Name
Registration Certificate
Business Address
Authorized Signatory
Governing Law
Effective Date
Official Seal
Witness
Banking Institution
Transaction Documents
Power of Attorney
Business Assets
Operating Account
Legal Representative
Authorized Acts
Certificate True Copy
Corporate Affairs Commission
Business Registration Number
Proprietor
Resolution
Authorized Person
Business Premises
CAC
CAMA
Business Name
Registration Certificate
Business Address
Authorized Signatory
Governing Law
Effective Date
Official Seal
Witness
Banking Institution
Transaction Documents
Power of Attorney
Business Assets
Operating Account
Legal Representative
Authorized Acts
Certificate True Copy
Corporate Affairs Commission
Business Registration Number
Clauses
Recitals
Authority Declaration
Resolution Actions
Banking Authorization
Financial Powers
Property Dealings
Execution Authority
Delegation of Powers
Compliance Declaration
Witness Requirements
Certification
Attestation
Authentication
Signature Authority
Document Execution
Business Operations
Legal Representation
Contract Authorization
Administrative Powers
Operational Authority
Amendment Powers
Implementation Authority
Effective Date
Registration Requirements
Authority Declaration
Resolution Actions
Banking Authorization
Financial Powers
Property Dealings
Execution Authority
Delegation of Powers
Compliance Declaration
Witness Requirements
Certification
Attestation
Authentication
Signature Authority
Document Execution
Business Operations
Legal Representation
Contract Authorization
Administrative Powers
Operational Authority
Amendment Powers
Implementation Authority
Effective Date
Registration Requirements
Relevant Industries
Retail
Manufacturing
Professional Services
Agriculture
Technology
Healthcare
Construction
Real Estate
Transportation
Education
Hospitality
Import/Export
Consulting
Financial Services
General Commerce
Relevant Teams
Legal
Finance
Administration
Compliance
Operations
Corporate Secretariat
Risk Management
Business Development
Relevant Roles
Business Owner
Managing Director
Chief Executive Officer
Legal Counsel
Company Secretary
Finance Manager
Operations Manager
Business Development Manager
Administrative Officer
Compliance Officer
Risk Manager
Bank Relationship Manager
Account Manager
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