resolution to borrow
Definition
Authority granted to the officers of a firm, through a resolution passed to the effect by the stockholders (shareholders), to put the firm into debt. Most lenders usually provide a pro forma resolution which the borrower completes and signs.
email to a friend
print this definition
cite this definition
link to this page
resolution to borrow is in the Accounting & Auditing, Banking, Commerce & Finance and Entrepreneurship, Management, & Leadership subjects.
This content can be found on the following page:
http://www.businessdictionary.com/definition/resolution-to-borrow.html