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Important
Note:
Forms are to be used as a guide only to assist you. No liability is assumed for errors in substance or form. It is your responsibility to revise the forms to meet current law
requirements and your particular situation. No liability is assumed for improper use of these forms.
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RESOLUTION
- ACCEPTANCE OF OFFER TO EXCHANGE REALTY FOR SHARES OF CORPORATION
Whereas,
________________________, the owner of certain real estate situated at
_______________________
in the City of ________________, County of
______________________,
State of _____________________, has offered to sell to the
_____________
Corporation (hereinafter sometimes referred to as the "Corporation"),
the real
estate, as more
particularly described in the offer attached hereto, for the issuance to him of
______ percent
of the authorized stock of the Corporation, fully paid and nonassessable; and
Whereas, the
previously described real estate is valuable for the use and lawful purpose of
the Corporation;
Now, therefore,
be it resolved that the board of directors of the Corporation accept the offer
and agree, on
receipt of the deed transferring the real estate to the Corporation, to issue
all
authorized stock
of the Corporation, fully paid and nonassessable, in full payment thereof.
By the Board of
Directors, this resolution is adopted ________________________.
______________________________
Chairman, Board
of Directors
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