Resolution to File Chapter 7 Bankruptcy
Corporation Name: _____
WHEREAS, the Corporation/LLC is insolvent and unable to pay its debts to creditors when due and they mature, and
WHEREAS, it would be in the best interest of the Corporation/LLC and its creditors to file a voluntary petition under Chapter 7 Bankruptcy Code.
RESOLVED, that the Corporation/LLC is hereby authorized to hire an attorney and file as soon as possible for bankruptcy in accordance to Chapter 7 of the Bankruptcy Code.
RESOLVED, further, that the Secretary/Manager of the Corporation/LLC, and that the foregoing is a true record of resolution duly adopted by at a meeting of the stockholders/members and that said meeting was hold in accordance with the state law and the Bylaws/Operating Agreement of the Corporation/LLC on date _____, 2 _____. The Resolution is now in full force and effect without modification or rescission.
Designation: Secretary _____
Designation: Manager _____