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Board Resolution Extending Depository Contract for Funds Of Independent School Districts Under Texas Education Code, Chapter 45, Subchapter G, School District Depositories Be it Resolved by the Board
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How to fill out board resolution extending depository
How to fill out board resolution extending depository:
01
Begin by gathering all necessary information and documents related to the depository extension, such as the current depository agreement, any relevant board resolutions, and the proposed changes to be made.
02
Clearly state the purpose and objective of the board resolution, which is to extend the depository agreement. This may include providing additional time for the depository to hold and manage certain assets or to continue providing services to the organization.
03
Include a detailed explanation of why the extension is necessary, highlighting any specific benefits or advantages that it will bring to the organization.
04
Specify the proposed duration of the extension, whether it is a specific number of months, years, or until a particular date. Make sure to consider the needs and future plans of the organization when determining the duration.
05
Outline any conditions or terms that the depository must adhere to during the extended period. This may include requirements for reporting, performance standards, or any specific actions that need to be taken.
06
Clearly state the authority granting the extension, which is typically the board of directors or a relevant board committee. Include their names, titles, and the date of the board meeting at which the resolution was passed.
07
Sign the resolution and make sure to obtain the necessary signatures from the appropriate board members or officers. Keep a copy of the resolution for record keeping purposes.
Who needs board resolution extending depository:
01
Organizations that have a current depository agreement and wish to extend its duration.
02
Companies or institutions that require additional time for the depository to hold and manage their assets.
03
Entities that rely on the services provided by the depository and want to continue receiving them beyond the original agreement period.
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What is board resolution extending depository?
A board resolution extending depository is a formal decision made by a company's board of directors to extend the agreement with a depository.
Who is required to file board resolution extending depository?
The company's board of directors is required to file the board resolution extending depository.
How to fill out board resolution extending depository?
To fill out a board resolution extending depository, the board of directors must include details of the extension agreement and vote on the decision during a board meeting.
What is the purpose of board resolution extending depository?
The purpose of a board resolution extending depository is to officially document the decision to extend the agreement with a depository for a specified period of time.
What information must be reported on board resolution extending depository?
The board resolution extending depository must include details of the depository agreement, the duration of the extension, and the reasons for extending the agreement.
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