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Secretary Certificate - Treasury Shares Template

The Board of Directors of a corporation held a special meeting where they approved resolutions regarding delinquent stockholders. The resolutions declared stocks held by three stockholders as delinquent for failing to pay amounts due. The Board ordered the sale of the delinquent stocks at a public auction on a specified date. Notice of the sale was published on two dates in a newspaper. At the auction, no bidder offered to pay the full amounts owed. The corporation then purchased the stocks itself, making them treasury shares. The Corporate Secretary certified these resolutions were correctly recorded in the minute book.

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1K views2 pages

Secretary Certificate - Treasury Shares Template

The Board of Directors of a corporation held a special meeting where they approved resolutions regarding delinquent stockholders. The resolutions declared stocks held by three stockholders as delinquent for failing to pay amounts due. The Board ordered the sale of the delinquent stocks at a public auction on a specified date. Notice of the sale was published on two dates in a newspaper. At the auction, no bidder offered to pay the full amounts owed. The corporation then purchased the stocks itself, making them treasury shares. The Corporate Secretary certified these resolutions were correctly recorded in the minute book.

Uploaded by

Agnes Pajilan
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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REPUBLIC OF THE PHILIPPINES) )s.

s SECRETARY'S CERTIFICATE KNOW ALL MEN BY THESE PRESENTS: I,_____________ , being the Corporate Secretary of ____________(hereinafter, the Corporation), a corporation organized under the Philippine law, with the principal office at _______________________________________, do hereby certify that at the special meeting of the Board of Directors of the Corporation held on __________ at ___________ in the afternoon at the above-stated principal office, the following resolutions were approved and adopted: RESOLVED, a call was made on _____ ordering the stockholders to pay on ____________ 2011 the following stocks that were due and demandable: Stockholder No. of Shares Amount 1. 2. 3. RESOLVED FURTHER, That the above-mentioned stockholders failed to settle the said amount to the corporation. After __________, __________, the stocks were declared delinquent by the Board for the failure to pay the principal amount plus interest amounting to the following: 1. 2. 3. RESOLVED FURTHER, That on a Board resolution dated _______, the Board ordered the sale at a public auction of the delinquent stock on ________ 2011 at the principal place of business in the amount of each subscription inclusive of accrued interest as follows: 1. 2. 3. RESOLVED FURTHER, That notice of the sale together with the resolution was given to the delinquent stockholders and was published last _________ and ________ 2011 in _________ RESOLVED FURTHER, That at the public auction there was no bidder who offered to pay the full amount of the balance on the subscriptions, together with accrued interest, costs of advertisement and expenses of the sale for the smallest number of shares or fraction of a share. RESOLVED FINALLY, That the corporation purchased the said stocks and paid in the full amount of ____________________________________________. Therefore, it will now be the TREASURY SHARES of the corporation. I further certify that the foregoing is true and correct copy of the resolution as it appears in the minute book under my custody. IN WITNESS WHEREOF, I have hereunto set my hand this ____ day of August 2011 at the City of , Philippines.

Corporate Secretary

SUBSCRIBED AND SWORN to before me on the date and place abovementioned, affiant exhibiting his/her ID No. ______________________ issued on _______________, 2011 at _____________________________.

Doc. No. _____; Page No. ______; Book No. ______; Series of 2011.

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