We do not practice law and none of this is a recommendation of Law…. this is the reason we have sourced important items from Attorneys…
Raise your hand if you HAVE NOT done your Annual Meeting Minutes!
This has to be one of the most missed items for small businesses or sole proprietorships…. BUT it is important ! Is it policed? Not heavily, but it could hit you when you least expect it so its a good idea to keep it up to date!
Who has to do an Annual Meeting?
This from Corpnet Blog Post By Nellie Akalp
States don’t require LLCs to hold annual meetings and draft minutes. However, an LLC’s Operating Agreement might have language that makes them mandatory for the company. If an LLC’s members have included an annual meeting requirement in their LLC Operating Agreement, but later decide they’re unnecessary or cumbersome, they can amend that document to exclude that provision.
Why?
From Deborah Sweeney at MyCorporation.com
Meeting minutes serve as legal proof that your business followed proper procedures when making decisions. They can help protect your company in the event of disputes, audits, or lawsuits by showing when and how key actions were approved. For corporations and nonprofits, maintaining these records is not just good practice, it’s often required by law.
Well-documented meeting minutes help ensure accountability, improve communication, and support long-term planning. They show that your company is organized and operating with transparency. Prioritizing minutes also strengthens your compliance posture and reinforces your business’s commitment to good governance.
How? Not to worry, it is not as hard as you may think!
Again, no legal recommendations … BUT –
Microsoft the big Gorilla has a ton of examples for Minute Templates here
Be less concerned with getting the Exact correct format and a pretty Minutes record and more concerned with just getting it done!
Have a Great “Minutes Reminder” Day!
John A. Kvale CFA, CFP
AI Content Authenticity: All of the following text content has been completed by myself and has not been edited or created by AI. Occasionally we do use AI for images and will note when appropriate.
Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.
