Board Resolution Format for Sale of Car

CERTIFIED BOARD RESOLUTION: AUTHORIZATION FOR DISPOSAL OF CORPORATE ASSET

DOCUMENT ID: CORP-RES-VEH-2024-[INTERNAL_ID]
EFFECTIVE DATE: [Date of Meeting]
VERSION: 1.0
GOVERNING JURISDICTION: [State/Province], [Country]

1. STATUTORY & LEGAL COMPLIANCE NOTICE

Disclaimer: This document is a template provided for informational and drafting purposes. Corporate governance requirements vary significantly by jurisdiction (e.g., Delaware vs. UK Companies Act). Prior to execution, counsel must verify that this resolution complies with the Company’s Bylaws, Articles of Incorporation, and local statutory requirements regarding the disposal of capital assets. This document does not constitute formal legal advice.

2. PREAMBLE & RECITALS

CERTIFIED EXTRACT OF THE MINUTES OF THE MEETING OF THE BOARD OF DIRECTORS OF [COMPANY FULL LEGAL NAME] (the "Company"), held at [Principal Address] on [Date] at [Time].

WHEREAS, the Company is the registered legal owner of the motor vehicle described as follows (the "Asset"):

• Make/Model: [Make and Model]
• VIN/Chassis Number: [Insert VIN]
• License Plate/Registration: [Insert Plate Number]

WHEREAS, the Board of Directors (the "Board") has determined that it is in the best interest of the Company to divest itself of said Asset;

3. OPERATIVE RESOLUTIONS

RESOLVED, that the Company is hereby authorized to sell, transfer, and convey the Asset to [Purchaser Full Legal Name] (the "Buyer") for a total consideration of [Amount in USD] (the "Purchase Price").

FURTHER RESOLVED, that [Name of Authorized Signatory], acting in their capacity as [Title/Role], is hereby authorized, empowered, and directed to execute, deliver, and perform, in the name and on behalf of the Company, any and all agreements, bills of sale, motor vehicle transfer titles, and other instruments as may be necessary or appropriate to effectuate the transfer of title to the Buyer.

FURTHER RESOLVED, that the Company shall be held harmless regarding the condition of the Asset, which is sold on an "AS-IS, WHERE-IS" basis, with all faults and without any warranty of merchantability or fitness for a particular purpose, unless otherwise explicitly stated in a supplemental Bill of Sale.

FURTHER RESOLVED, that the Secretary of the Company is authorized to certify this resolution and provide copies thereof to the relevant Department of Motor Vehicles or equivalent regulatory authority to facilitate the transfer of title.

4. MISCELLANEOUS PROVISIONS

4.1. Entire Agreement: This Resolution constitutes the entire corporate action regarding the disposal of the Asset and supersedes all prior discussions or understandings. 4.2. Severability: If any provision of this Resolution is held to be invalid or unenforceable, the remaining provisions shall remain in full force and effect. 4.3. Governing Law: This Resolution shall be governed by and construed in accordance with the laws of the jurisdiction of [Governing Jurisdiction].

5. EXECUTION & SIGNATURE BLOCKS

CERTIFIED BY:

FOR [COMPANY LEGAL NAME]: Signature: _____________________________________ Printed Name: [Corporate Secretary Name] Title: Corporate Secretary Date: [Date]

FOR [PURCHASER / BUYER]: Signature: _____________________________________ Printed Name: [Authorized Signatory Name] Title: [Title / Role] Date: [Date]

6. STEP-BY-STEP EXECUTION & FILING GUIDE

1. Drafting: Replace all bracketed [ ] text with verified corporate data. Ensure the VIN matches the official vehicle title document exactly.
2. Verification: Confirm that the person signing as "Authorized Signatory" is empowered to bind the corporation as per the Company’s Bylaws or a pre-existing Power of Attorney.
3. Digital Execution: Upload this finalized document to a platform like DocuSign or Adobe Sign. Ensure the "Audit Trail" feature is enabled to verify the signatory's identity via email/multi-factor authentication.
4. Notarization: Depending on the jurisdiction’s DMV requirements, some vehicle titles require a signature to be notarized. Check local laws prior to finalizing the Bill of Sale.
5. Record Retention:
   • Maintain the original (or digital equivalent) in the Company’s Minute Book.
   • Provide a certified copy to the Buyer for their records.
   • Forward a copy to the Company’s accounting department to record the asset disposal and update the depreciation schedule/ledger.