A legal guide to corporate housekeeping, forms, etc...
It is vital that all corporations keep adequate documentation in the form of minutes of shareholder and director meetings. In many jurisdictions, the absence of proper records may be a liability for the shareholders of a corporation, particularly in cases where the shareholders are directors themselves, or where they have close relationships to the corporate directors.
Most jurisdictions require corporations to hold annual shareholder's meetings to elect directors. Also, the bylaws of most corporations also require their board of directors to have an annual meeting. Although the board may delegate day-to-day operation of the business, the following actions normally require approval by the board of directors:
A legal guide to corporate housekeeping, forms, etc...
adapted from: Methven & Associates, 2232 Sixth Street, Berkeley, CA 94710 phone: (510) 649- 4019; fax: (510) 649-4024; e-mail: bmethven@methvenlaw.com Web site: www.methvenlaw.com; Copyright 2000 Bruce E. Methven. All Rights Reserved.
»Example of minutes of a Board of Directors Meeting
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