Definition of 'Corporate Resolution'
A written statement made by the board of directors detailing which officers are authorized to act on behalf of the corporation. The corporate resolution will be found in the board minutes detailing decisions made by the board during the meeting.
Investopedia explains 'Corporate Resolution'
The board of directors in a corporation are responsible for making major corporate decisions such as dividends, election of board members, and secondary offerings. For example, a corporate resolution will be created if a board decides to increase the size of the dividend paid to shareholders. The resolution will detail the terms of new dividends along with the date of the board meeting.
Corporate resolutions are also used to identify corporate officers that can trade, assign, transfer or hedge on behalf of the corporation.