eSignatures offer the same legal standing as a handwritten signature. They provide a fast, secure, and accurate identification alternative for signatures, all while keeping all your records compliant. This applies to nearly every legal document including those circulated for board governance purposes.
Specifically for boards, there are many occasions when eSignatures prove vital to good governance, expediting the speed of business, and driving secure collaboration in the boardroom and beyond. Let's see how eSignatures work, how they will improve your workflow, and how OnBoard makes eSignatures easier than ever.
Approve Minutes in Seconds
eSignatures dramatically expedites the time necessary to sign meeting minutes. OnBoard streamlines the processes by making signing as easy as a mouse click. No more page by page initials. Just real time savings.
Most state laws and bylaws require attendance records must be signed by the company secretary and frequently the board chair. Each page often needs an initial. And subject to your jurisdiction, it’s often mandated that everyone in attendance also apply their signatures.
With eSignatures, the whole process is streamlined. Instead of printing, carrying around record books, and seeking the signatures of directors, you can set up a simple workflow to achieve the same results. Using the attendance report built right into OnBoard, eSignatures allow you to seek an integrated electronic signature, staying digital end to end.
Action by Written Consents
The signatures of directors may be necessary for numerous agreements. Where time is pressing but a meeting of directors would be unnecessary, eSignatures are key. For instance, Here's how Indiana's law works in practice:
Sec. 2. (a) Except to the extent that the articles of incorporation or bylaws require that action by the board of directors be taken at a meeting, action required or permitted by this article to be taken at a board of directors' meeting may be taken without a meeting if the action is taken by all members of the board. The action must be:
(1) evidenced by one (1) or more written consents describing the action taken;
(2) signed by each director;
Examples of frequent actions taken in this manner include:
- Amending the bylaws
- Electing or removing officers and/or directors
- Changing corporate policies/information
- Financial decisions or resolutions, such as approving loans and setting salaries for employees
- Issuing stock or approving share transfers
- Purchasing, leasing or selling real estate/assets
- Appointing signing authority
- Hiring employees or contractors
With eSignatures you obtain a faster method of obtaining written consent, improved record keeping, together with enhanced security.