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Borrow Against Accounts Receivable
BORROW AGAINST ACCOUNTS RECEIVABLEWHEREAS, the Corporation is or may be in need of additional operating funds; be it
RESOLVED, that the Corporation, through [Person Name] ,is hereby authorized to borrow, from time to time, such sums as may be advisable or necessary for the proper operation of the business, such borrowing to be upon such terms and conditions as may deem appropriate, and for that purpose the Corporation may assign and pledge its accounts receivable as collateral security.
The undersigned hereby certifies that [he/she] is the duly elected and qualified Secretary and the custodian of the records and books and seal of the [Name of Corporation] corporation. The undersigned also certifies that this corporation has been duly formed in accordance with the laws of [State of Jurisdiction]. Furthermore, the undersigned certifies that the foregoing is a true record of a resolution duly adopted at a meeting of the Board of Directors, and that said meeting was held in accordance with the applicable laws and the Bylaws of the [Name of Corporation] Corporation on [Date of Meeting], and that said resolution is now in full force and effect without modification or rescission.
IN WITNESS WHEREOF, I have executed my name as Secretary and have hereunto affixed the corporate seal of the [Name of Corporation] Corporation on [Date signed]
A True Record.
Attest.
Secretary