The Board Resolution For Loan From Shareholder is a crucial corporate document used when a company seeks to formalize borrowing arrangements from its shareholders under Maltese law. This resolution is required to comply with Malta's Companies Act (Cap. 386) and demonstrates proper corporate governance in related party transactions. The document is typically used when a company needs additional funding and a shareholder is willing to provide it as a loan rather than equity. It includes essential details such as loan amount, interest rate, repayment terms, any security arrangements, and the board's consideration of the company's ability to service the debt. The resolution serves as evidence that the decision was properly considered and approved at board level, protecting both the company and its stakeholders.
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1. Title and Date: Formal title of the resolution and date of the board meeting
2. Present Directors: List of directors present at the meeting and confirmation of quorum
3. Chairperson: Identification of the chairperson of the meeting
4. Background: Context of the company's need for the loan and the shareholder's offer to provide it
5. Loan Details: Essential terms of the loan including amount, interest rate, and repayment terms
6. Board Considerations: Statement of the board's consideration of the company's interests and ability to repay
7. Resolution: Formal resolution text approving the loan and its terms
8. Authorization: Empowerment of specific officers to execute loan documentation
9. Certification: Secretary's or Director's certification of the resolution
1. Security Arrangements: Include when the loan is to be secured by company assets
2. Related Party Disclosure: Required when the lending shareholder is also a director
3. Special Conditions: Any unique terms or conditions specific to this loan arrangement
4. Subordination Provisions: Include when the shareholder loan needs to be subordinated to other company debt
5. Conflict of Interest Declarations: Required when any directors have declared conflicts regarding the loan
1. Loan Terms Schedule: Detailed terms and conditions of the loan including amount, interest, repayment schedule
2. Form of Loan Agreement: Draft or final version of the loan agreement to be executed
3. Security Documents: If applicable, list and copies of security documentation
4. Director Attendance Record: Official record of directors present and voting
5. Company Financial Summary: Recent financial information supporting the loan decision
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