Annual Meetings
Do you have one of these? You probably received one when you incorporated your business.
This corporate minute-book is more than just a fancy organizer, it's a requirement to ensure you are properly governing your business and keeping it in compliance.
The Model Business Corporation Act section seven point zero one, subsection A states that "A corporation shall hold a meeting of shareholders annually at a time stated in or fixed in accordance with the bylaws." Similarly, Delaware General Corporation Law section 211 mandates that an annual meeting "shall be held for the election of directors." Annual meetings are required by most states' corporation law, even if there is only one shareholder.
As a business owner and manager, properly documenting and tracking your corporate minutes, written consents, resolutions, annual meetings, and shareholders is important, but often times, small business owners overlook the importance of properly maintaining their corporate minute-book until they are involved in litigation, financing, or an audit of their corporate records.
Protect you and your company, contact us today to learn more.