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A failure to do so can result in limited or no liability protection, which is often called "piercing the corporate veil."
Minutes of annual general meeting Agenda item 1: Welcome, attendees and apologies. Agenda item 2: Proxy appointments. Agenda item 3: Minutes of previous meeting and matters arising. Agenda item 4: Corporation reports. Agenda item 5: Questions. Agenda item 6: Appointment of auditor and fee. Agenda item 7: Election of directors.
A failure to do so can result in limited or no liability protection, which is often called "piercing the corporate veil."
An annual general meeting, or annual shareholder meeting, is primarily held to allow shareholders to vote on both company issues and the selection of the company's board of directors. In large companies, this meeting is typically the only time during the year when shareholders and executives interact.
Failure to keep meeting minutes The most severe consequence is the loss of liability protection. If this happens, shareholders' personal assets may be exposed to liability for the corporation's debts.