I would like to invest some of my company's money with myself (in my bond). The main reason is so that the company can get some benefit out of money that is sitting idle (not large amounts), and not have to pay extra banking fees while getting a reasonable interest rate and still having immediate access to the money if needed.
What should be in the resolution to do this? How about this:
"At a meeting of the board of directors it was resolved that any excess funds would be invested with Duncan Drennan at an interest rate of prime less 6%."
From an accounting side it is just a matter of me presenting a statement to the company once a month. I would then set it up as an investment account in my accounting package.
Anything else that needs to be in the resolution?
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