Corporate Loans

Create Promissory Notes and Resolutions

Corporate Loans

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Corporate Loans

, Attorney

, 5th Edition

Corporate Loans: Create Promissory Notes and Resolutions explains the tax consequences and legal considerations that will keep you out of trouble with the IRS. Document director and shareholder loan approvals with these 27 resolutions and promissory notes, including:

  • Authorization of Institutional Loan at Specific Terms
  • Authorization of Line of Credit
  • 12 promissory notes for loans to and from the corporation with various repayment terms
See below for a full product description.

When the corporate coffers dwindle or swell, small corporations often borrow or lend their filthy lucre. The IRS likes to see such loans documented, whether they involve financial institutions, shareholders, directors, friends or relatives. And financial institutions and other lenders often require written resolutions for these loans.

Corporate Loans: Create Promissory Notes and Resolutions explains the tax consequences and legal considerations that will keep you out of trouble with the IRS.

It also provides numerous resolutions and promissory notes for you to approve and document your loan transactions, including:

  • Authorization of Institutional Loan at Specific Terms
  • Authorization of Maximum Institutional Loan on General Terms
  • Unlimited Authorization of Loans for Business Needs
  • Authorization of Line of Credit
  • Authorization of Line of Credit with Cap on Each Transaction
  • Authorization of Loan Terms Secured by Corporate Property
  • Approval of Loan to Corporation from Insider
  • Approval of Corporate Loan to Insider
  • 12 promissory notes for loans to and from the corporation with various repayment terms

With this comprehensive eGuide, you and your corporation will be able to sigh, "Ahhhh. A loan at last."

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ISBN
9780873376655
Included Forms

Resolutions for Loans to the Corporation


  • Authorization of Loan at Specific Terms
  • Authorization of Maximum Loan on General Terms
  • Unlimited Authorization of Loans for Business Needs
  • Authorization of Line of Credit
  • Authorization of Line of Credit With Cap on Each Transaction
  • Authorization of Loan Terms Secured by Corporate Property
  • Resolution Approving Loan to Corporation
  • Promissory Note: Installment Payments of Principal and Interest (Amortized Loan)
  • Promissory Note: Installment Payments of Principal and Interest (Amortized Loan) Secured by Property
  • Promissory Note: Installment Payments of Principal and Interest (Amortized Loan) With Balloon Payment
  • Promissory Note: Periodic Payments of Principal and Interest With Lump Sum Principal Payment
  • Promissory Note: Lump Sum Payment of Principal and Interest on Specifi ed Date
  • Promissory Note: Lump Sum Payment of Principal and Interest on Demand by Noteholder
  • Promissory Note: Variable Schedule of Payments of Principal and Interest

Resolutions for Loans by the Corporation to Insiders

  • Approval of Corporate Loan to Insider
  • Promissory Note: Monthly Installment Payments of Principal and Interest (Amortized Loan)
  • Promissory Note: Installment Payments of Principal and Interest (Amortized Loan) Secured by Property
  • Promissory Note: Installment Payments of Principal and Interest (Amortized Loan) With Balloon Payment
  • Promissory Note: Periodic Payments of Interest With Lump Sum Principal Payment
  • Promissory Note: Lump Sum Payment of Principal and Interest on Specifi ed Date
  • Promissory Note: Lump Sum Payment of Principal and Interest on Demand by Noteholder
  • Promissory Note: Variable Schedule of Payments of Principal and Interest
  • Release of Promissory Note

Resolutions to Certify Board and Shareholder Actions

  • Written Consent to Action Without a Meeting
  • Certification of Board or Shareholder Action
  • Affidavit of Corporate Decision Making
  • Acknowledgment
  • Anthony Mancuso

    Anthony Mancuso is a corporations and limited liability company expert. He graduated from Hastings College of Law in San Francisco, is a member of the California State Bar, writes books and software in the fields of corporate and LLC law, and studies advanced business taxation at Golden Gate University in San Francisco. He has also been a consultant for Silicon Valley EDA (Electronic Design Automation) companies, most recently working on a C++ open-source integrated circuit database project team. He is the author of several Nolo books on forming and operating corporations (both profit and nonprofit) and limited liability companies. His titles include Incorporate Your Business, How to Form a Nonprofit Corporation (national and California editions), Form Your Own Limited Liability Company, The Corporate Records Handbook, and LLC or Corporation? His books have shown over a quarter of a million businesses and organizations how to form a corporation or LLC. He also is a licensed helicopter pilot and has performed for years as a guitarist in many musical idioms.

Introduction

  • Why Key Corporate Decisions Should Be Recorded
  • How Should Corporate Decisions Be Recorded?
  • Who Should Use Th ese Forms?
  • When to Consult a Professional
  • Further Resources

Resolutions for Loans to the Corporation

  • When to Use Corporate Loan Resolutions
  • Loans to the Corporation by Banks and Other Lending Institutions
  • Loans to the Corporation by Shareholders and Other Insiders
  • Promissory Notes Overview
  • Sample Promissory Note Forms

Resolutions for Loans by the Corporation to Insiders

  • Insider Loan Restrictions Under State Law
  • Tax Considerations and Consequences of Insider Loans
  • Resolution for Board and Shareholder Approval of Corporate Loan to Insider
  • Supporting Documentation—Promissory Notes
  • Release of Promissory Note

How to Take Action by Written Consent Without a Meeting

  • Step 1. Check Bylaws for Your State’s Written Consent Rules
  • Step 2. Prepare Written Consent Form
  • Step 3. Place Signed Consent Forms in Your Corporate Records Book

Certification, Affidavit, or Acknowledgment of Corporate Decision Making

  • Certification of Board or Shareholder Action
  • Affidavit of Corporate Decision Making
  • Acknowledgment of Corporate Document

Appendix: Print-Only Forms