Form with which the board of directors of a corporation records the contents of its first meeting.
Board Meeting Minutes Corporate Withholding In Los Angeles
State:
Multi-State
County:
Los Angeles
Control #:
US-0007-CR
Format:
Word;
Rich Text
Instant download
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FAQ
California professional corporations must file an annual Statement of Information, hold annual shareholder and director meetings, document meeting minutes, maintain accurate records, and ensure they comply with all applicable state regulations.
State-level requirements: In most states, minutes are required for all corporate meetings, including board meetings. Corporate boards must know, understand and abide by their state laws regarding meeting minutes. It's part of their fiduciary duties; not knowing the law doesn't excuse them from following it.
The basic features of meeting minutes are the date, time, location and attendees, followed by a record of the board's actions, including brief descriptions of any presentations or topics discussed, specific resolutions adopted, and finally, general resolutions.
What happens if a minute book is not maintained? If evidence is uncovered that a corporate entity's actions are not documented in historic or active record keeping, the shareholders, members, and management could lose personal liability protection – a situation referred to as “piercing the corporate veil.”
You're not required to file meeting minutes with the state, but you should maintain them in a secure location along with your other important documents, such as articles of incorporation. It's a good idea to keep minutes for seven years in the event of an audit.
Robert's Rules (Section -16) state that “the minutes should contain mainly a record of what was done at the meeting, not what was said by the members.” Minutes are not transcripts of meetings; rather, the document contains a record of actions taken by the body, organized by the meeting's order of business (agenda).
Are board meeting minutes confidential? Yes. The board should assume the minutes are confidential and, in most cases, they will remain so.
What happens if a minute book is not maintained? If evidence is uncovered that a corporate entity's actions are not documented in historic or active record keeping, the shareholders, members, and management could lose personal liability protection – a situation referred to as “piercing the corporate veil.”
California professional corporations must file an annual Statement of Information, hold annual shareholder and director meetings, document meeting minutes, maintain accurate records, and ensure they comply with all applicable state regulations.
They are legally required to include these details: Date, time, and location of the meeting. Record of notice of board meeting provision and acknowledgment. Names of attendees and absentees, including guests. Approval of previous meeting minutes.