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    BOD Resolution

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    Neil Adonis Usaraga
    The Board of Directors of [Organization Name] held a meeting to authorize a loan of PHP 300,000 from [Bank Name] to fund projects in the 2017 Development Plan. The Board resolved to authorize the Chairman to enter into a loan contract with [Bank Name] for PHP 300,000, the lowest interest rate offered. A copy of the resolution will be provided to the General Assembly for ratification and for information. The resolution was approved en masse.

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    BOD Resolution

    Uploaded by

    Neil Adonis Usaraga
    563 views2 pages
    The Board of Directors of [Organization Name] held a meeting to authorize a loan of PHP 300,000 from [Bank Name] to fund projects in the 2017 Development Plan. The Board resolved to authorize the Chairman to enter into a loan contract with [Bank Name] for PHP 300,000, the lowest interest rate offered. A copy of the resolution will be provided to the General Assembly for ratification and for information. The resolution was approved en masse.

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    The Board of Directors of [Organization Name] held a meeting to authorize a loan of PHP 300,000 from [Bank Name] to fund projects in the 2017 Development Plan. The Board resolved to authorize the Chairman to enter into a loan contract with [Bank Name] for PHP 300,000, the lowest interest rate offered. A copy of the resolution will be provided to the General Assembly for ratification and for information. The resolution was approved en masse.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    563 views2 pages

    BOD Resolution

    Uploaded by

    Neil Adonis Usaraga
    The Board of Directors of [Organization Name] held a meeting to authorize a loan of PHP 300,000 from [Bank Name] to fund projects in the 2017 Development Plan. The Board resolved to authorize the Chairman to enter into a loan contract with [Bank Name] for PHP 300,000, the lowest interest rate offered. A copy of the resolution will be provided to the General Assembly for ratification and for information. The resolution was approved en masse.

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    © All Rights Reserved
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    ---------------------------------------------------------

    EXCERPTS FROM THE MINUTES OF THE MEETING OF THE BOARD OF


    DIRECTORS OF ------------------------------- HELD LAST ----------------------- AT
    ----------------------------.

    RESOLUTION NO. 03-2017


    A RESOLUTION AUTHORIZING THE CHAIRMAN, ----------------- OF
    ------------------TO ENTER INTO A CONTRACT OF LOAN WITH -------------- IN THE
    AMOUNT OF THREE HUNDRED THOUSAND PESOS (Php 300,000.00)

    WHEREAS; in line with the formulation of the Development Plan 2017,


    a Board Meeting was held for the purpose of determining the financial
    requirement to carry out the various projects and programs for fiscal year
    2017;

    WHEREAS; it has been agreed that the Chairman shall be authorized to


    enter into a Contract of Loan with _____________________ in the amount of
    Three Hundred Thousand Pesos (Php 300,000.00) which shall be utilize for
    funding source as reflected in the development plan;

    WHEREAS; several banking institutions had offered to grant loan to the


    cooperative however ___________________ has the least interest rate;

    WHEREAS, finding the said loan to be in order and necessary for the
    development of the cooperative and of its members in general, the Board
    has authorize the Chairman to enter into a Contract of Loan;

    NOW, THEREFORE, in motion by Director ____________ duly seconded by


    ________________, the Chairman, ________________, is hereby authorized to
    enter into a contract of loan with __________________ in the amount of Three
    Hundred Thousand Pesos (Php 300,000.00);

    BE IT RESOLVED, as it is hereby resolved by the Board of Directors to


    authorize the Chairman to enter into a contract of loan with
    _________________________ in the amount of Three Hundred Thousand Pesos
    (Php 300,000.00), let copy of this resolution be duly furnished for the General
    Assembly to ratify this resolution and for information and guidance.

    APPROVED EN MASSE.

    I hereby certify to the correctness of the foregoing resolution.

    _________________________
    Board Secretary

    Noted:

    __________________
    Chairman
    ________________________
    Credit Committee Chairman

    ____________________________
    Treasurer

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