Why are Corporate Minutes not statutorily necessary per se, as far it pertains to LLCs?

 

John Kiritsis, Esq., CPA, MBA, MS, JD, LL.M

 

Kiritsis Law Group   

212 922 0005

 

Corporate minutes are written records of the proceedings and decisions made at meetings of a corporation's board of directors, shareholders, or other governing body. These minutes serve as an important tool for documenting and tracking the actions and decisions of the corporation, as well as providing evidence of compliance with relevant laws and regulations.

 

Corporate minutes should include a summary of the topics discussed and decisions made at the meeting, as well as the names of those in attendance and any individuals who were absent. In addition, corporate minutes should include a record of any votes taken, including the number of votes for and against any proposed actions.

 

It is important for corporate minutes to be accurately and thoroughly documented to provide a clear and concise record of the proceedings and decisions of the corporation. This can help to prevent misunderstandings and disputes, as well as provide evidence of compliance with relevant laws and regulations.

 

Corporate minutes should be kept in a secure location, such as a corporate minute book, and should be made available to shareholders and other interested parties upon request. In addition, corporate minutes should be reviewed and approved by the board of directors or other governing body at a subsequent meeting to ensure their accuracy and completeness.

 

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The views expressed by this author are not legally binding or reflective of the author, the author’s firm, the author’s employers, the author’s employees, or any individual and/or organization.