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karebearbennettgmail-comAdministratorFebruary 5, 2022 at 12:50 pm
Posted : 22/09/2021 11:46 am
Have you looked in the existing contract for the company’s requirements? There may be terms relating to how much notice they require and to which you have agreed.
What do your bylaws (or policies and procedures) say about signing officers?
I presume you would need a majority board decision, and the existing signing procedures (usually the President and one board member) may be required on the letter. The decision should be ratified by approving the board minutes, usually at the next meeting, before sending the written termination to the company. However, a discussion to inform the company in advance of the written decision would be courteous.
E&OE. Just my opinion; this is not legal advice. Perhaps you should consult your lawyer. A dispute over the contract could be costly and time‑consuming.