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Board Resolution For Sale Of Car
"I need a Board Resolution For Sale Of Car to authorize the sale of our company's Toyota Camry to a private buyer for $45,000, with the transfer to be completed by March 2025, and want to ensure our CFO and Company Secretary are named as authorized signatories."
1. Title and Date: Specifies the company name and date of resolution
2. Presence of Quorum: Confirms required number of directors present for valid meeting
3. Chairperson: Identifies who chaired the meeting
4. Vehicle Details: Complete description of the vehicle including make, model, registration number, chassis number and other identifying details
5. Sale Terms: Price and key terms of the sale including payment terms
6. Authorization: Board's approval and designation of authorized signatories for sale documentation
1. Valuation Report Reference: To be included when an independent valuation was conducted to determine fair market value
2. Related Party Disclosure: Required when the buyer is related to the company or its directors
3. Special Conditions: Any unique terms or conditions specific to this sale
1. Vehicle Registration Card: Copy of current vehicle registration details from LTA
2. Valuation Report: Independent valuation report if obtained
3. Transfer Forms: Required LTA transfer documentation and forms
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