Corporate minute question info?

Question

I recently requested to transfer a vehicle from the corporation to the individual and the state board requested for an amendment for the corporate minutes for the transfer of the vehicle. Any one know how I can do that? Do I just write down the info and sign it on a corporate letterhead?

Answer 1

They are basically saying that the company has to approve (vote) on the transfer of the vehicle to this individual. It is assuming that in a meeting (board or management) someone authorized this transfer. It sounds like they want a record (minutes) from this meeting that shows that the voting members agreed to this transfer. They want to make sure that you personally aren't just saying it is OK to to do. They want to confim that the committee members agreed to do this. If you have the minutes from the meeting, forward this (along with a signature page maybe) of authorized voting members and their approval of this.

Answer 2

What state board? The DMV?

The corporate secretary who recorded the minutes, writes Board Resolution to transfer the vehicle.

They need a statement signed by the corporate secretary that the transfer was resolved by the board.

They don't care about who signed it, just that that the board of directors passed a resolution to transfer it. The board was supposed to order the corporate secretary to write up the resolution and put it in the minutes.

The individual will have to report it as income unless the individual purchased it.

It is the Board of Directors, not the shareholders.

Additional: The corporate secretary is the only person authorized to sign the minutes or to sign a statement that the board of directors resolved to authorize the sale.

Additional: Something like this:

Resolution of the Board of Directors of

XYZ Corporation

Date: _______________

At the meeting referenced above, the Board of Directors adopted the following resolution which is be attached to and incorporated by reference in the minutes of said meeting:

The sale of "Make, Model, year, License, VIN..." to XXXXX XXXXXX for valuable consideration of $XX,x*x.XX is resolved by the board of directors.

Signed

John Doe

Corporate Secretary of XYX Corporation

Additional: The state board of equalization is for taxes, they want to know enough to figure what taxes to charge the purchaser and the corporation.