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Convert Excess Depreciation To Surplu
CONVERT EXCESS DEPRECIATION TO SURPLUS
WHEREAS $ [Amount of Money] U.S. Dollars has been assigned to the depreciation account on the Corporation's books for the period running from [Date] to [Date] and
WHEREAS $ [Amount of Money] U.S. Dollars has been assigned to the reserve for depreciation on the books of the Corporation, and
WHEREAS the value of the real property upon which said depreciation and reserve for depreciation charges and credits were made has been determined to be
RESOLVED that the Treasurer of this Corporation is hereby authorized and directed to transfer on the orporation's books $ [Amount of Money] U.S. Dollars from the Corporation's reserve for buildings account to the Corporation's surplus account.
The undersigned hereby certifies that he/she is the duly elected and qualified Secretary and the custodian of the books and records and seal of the corporation above-named. The undersigned also certifies that this corporation has been duly formed in accordance with the laws 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 above-named Corporation on [Date] , 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 above-named Corporation on [Date]
A True Record.
Attest.
Secretary