Unanimous Written Consent

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Also commonly referred to as a UWC, a unanimous written consent memorializes board or committee action taken without a formal meeting. The reference arises from state law and company bylaws, which typically require that all directors or committee members sign and return a written record of their consent. A UWC is commonly used to obtain approval of an action occurring between scheduled meetings when board (or committee) action is required and directors are unable, or do not deem it necessary, to hold a formal meeting. Any action taken in the form of a unanimous written consent is generally considered to have the same effect and authority as an action approved by the board or committee in a formal meeting.
Created By: Russell Benasaraf 03-18-2014
Last Updated By: Russell Benasaraf 03-18-2014
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