23st January 2014 by David Sherriff
Benefits of a Resolutions Register
A resolutions register is a register of the resolutions that a Board of Directors has made.
Normally these resolutions are all contained in the minutes of the meeting of directors. The minutes contain all the information undertaken at the meeting of which the resolutions established are only a part. Consequently, it can be a time intensive process to find any particular resolution.
The resolution register contains only the resolutions decided by the Board of Directors.
Benefits
There are a number of advantages of having a separate resolutions register:
It provides a quick reference to all prior decisions by subject. This saves an enormous amount of time trying to find the prior decisions that have been made as they are buried in numerous minutes of meetings.
It prevents re-litigating the same decision. It makes it easy to find all the previous decisions made on a particular subject and will ensure that the board of directors is not going over ground that has previously been canvassed.
It captures all Board of Directors decisions (except approval of minutes, financial, etc.) thereby ensuring:
That the Board of Directors stays focussed.
The Board of Directors is productive.
Displays the pattern of decision-making for the Board of Directors.
For new directors on the Board of Directors it becomes an excellent induction tool. The new director can access all the previous decisions of the Board of Directors without having to wade through all the previous minutes. It ensures the new director is quickly up to speed on the previous decisions made by the Board of Directors.
Effectiveness
To be effective the interest register needs to be able to be sorted by subject and date. This ensures that all resolutions relating to a particular subject are grouped together. Thereby providing a history on any particular subject.
To get the full background on a particular resolution the minutes of the meeting would need to be accessed. Therefore, the date of the minute also needs to be available.
Time Saving
In today’s environment time is an important commodity. Manually producing the resolution register can be time consuming process. xxxxxxx resolution register will automatically pull out of the minutes of the Board of Directors meeting the resolutions and these are assigned to the appropriate subject at time of import.
As mentioned above there are significant time savings on;
the introduction of a new director, and
prevents re-litigating the same decision.
Subjects
Each resolution belongs to one or more subjects and these are assigned at the time of import into the xxxxxxx resolution register.
The subjects and sub-subjects are defined by the user of xxxxxxx resolution software.
A particular resolution may belong to more than one subject.