A Board Resolution For Loan From Shareholder is commonly used when a company needs additional funding and a shareholder offers to provide a loan instead of external financing. This document is crucial in the United States as it demonstrates proper corporate governance and compliance with state corporation laws. It protects both the company and the lending shareholder by formally documenting the board's approval and the loan terms. The resolution typically includes the loan amount, interest rate, repayment terms, any security provisions, and specific authorizations for officers to execute related documents. It's particularly important for maintaining corporate records and may be required by banks, auditors, or regulatory authorities.

1. Title and Date: Formal identification of the document and date of resolution

2. Company Information: Legal name and registration details of the corporation

3. Recitals: Background information and purpose of the loan

4. Resolution Statement: Formal declaration of board's decision to accept the shareholder loan

5. Loan Terms: Key terms including amount, interest rate, and repayment schedule

6. Authorization: Specific powers granted to officers to execute loan documents

7. Certification: Secretary's certification of the resolution's validity