Board Resolutions: Accepting Contributions and Issuing Shares to Parent Corporation (CA) | Practical Law
Resolutions of the board of directors of a California subsidiary corporation to accept a California parent corporation's contribution of assets or shares in exchange for the subsidiary's common shares. These resolutions can also be used to authorize execution of a contribution agreement if used in connection with the parent's contribution. These resolutions are drafted as Standard Clauses and can be inserted into board minutes or a unanimous written consent. These Standard Clauses have integrated notes with important explanations and drafting tips.