What power does a corporate resolution form have?

A corporate resolution form is the official document of any decision a corporation's board or shareholders make, Rocket Lawyer explains. An organization generally uses the form when it has voted in a new board member or when it sells shares of the corporation.

A corporate resolution also indicates the corporate officers who have the power to trade or assign stocks on behalf of the corporation, Investopedia notes.

Corporate resolutions provide ways to review previous board decisions in assisting new developments of the business, the Houston Chronicle reports. They are generally necessary to execute contracts, open bank accounts or lease equipment.