A corporate minute book is where important records concerning a corporation are stored. Many new business owners do not want to pay to set up a minute book for their company. Corporate records and other corporate obligations corporations. Here is how to compile a corporation record book properly by section. Corporations often maintain their corporate records in a single book, referred to as the minute book of the corporation. The corporate record book is an essential tool in tracking major decisions and operations of a corporation. The minute book is set up when the corporation is first created. Why and how do you maintain a corporate minute book. A well organized minute book might be divided into the following sections, each containing the documents listed and with an accompanying index. Lettersize, mylarreinforced tab and edge for added durability, 5hole punched on 11 inch side. How to compile a corporation record book bizfluent.
The minute book is usually divided into various sections as follows. This should be done with the assistance of a corporate lawyer who can assist in getting the corporation formed and organized as well as creating the minute book. A corporation in ontario is required by law to maintain an official record of certain matters. What is a minute book and why should every corporation have one. Do you own a corporation and cant seem to grasp the concept of minute books. View image wilson jones corporate record and minute book outfit, 11 x 8 12, 11 division leather style tab image 1 of 1, selected. Wilson jones corporate record and minute book outfit, 11. What is a minute book and why should every corporation. Companies are legally obligated to maintain certain records. Overview of corporate minute books clausehound blog. Amazons choice for corporate minutes book wilson jones corporate minute book, letter size 8. The minutes of the annual meeting are recorded in the minute book. Ultimately, its a job that starts with you, your companys owner, secretary or shareholdersand it doesnt have to be difficult or complicated.
Such record is normally kept in a book called a minute book. Section 485 of the michigan business corporation act states that a corporation shall keep books and records of accounts and minutes of. A minutebook is used to store all important corporate documents such as the. This section of the minute book contains a record of all filings made to the. How to organize your corporation or llc minute book. Definition a minute book is used to store all important corporate documents. What is a minute book and what documents does it contain. Company counsel will also rely on these corporate records to back up a legal. What goes in a minute book resources for canadian business. A well organized minute book might be divided into the following sections, each. When a new company is incorporated there is a three step process. Below is an detailed explanation of what goes in a minute book.
How to organize your corporation or llc minute book maintaining corporate or llc compliance is an essential function that begins with being organized. In addition, decisions or resolutions passed by the directors are also recorded in the minute book from time to time. For reference to company ownership, your corporation minute book should also contain a stock ledger that shows percentages issued, dates of. Corpkit 3ring 1 14 vp binder heavy duty, imitation leather minute book, optional gold stamping with corporate or company records black 4. The minute book is divided into the following sections and an accompanying list. It is where meetings, general business, transactions and business decisions are recorded. The corporate minute book is a collection of documents that forms the official record of the activities of the corporation. Corporate minute book is the number one tool for organizing your corporate records. A filestamped copy of the certificatearticles of incorporation and all subsequent amendments as filed in the state of incorporation. The book is made up of five sections, each holding specific information. Minute books may be divided into sections which contain relevant documents along with an index. Learn everything you need to know about minute books here. Corporate index tabs organize corporate, llc, lp and nonprofit corporation kits. On an annual basis, the corporation is required to hold an annual meeting.