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Other Added - Corporate Records - What to Keep
Clients are the most precious assets for a business. Without clients, there can be no business. With poor quality of clients, the business will be poor and if you manage to get very good clients and retain their loyalty, your business will only go up and up. This all sounds very exciting. But it is not easy to get very good clients and all the more difficult to retain them. After al
Although each state has different records requirements, all require you to keep the following records.
1. Articles of Incorporation – The charter establishing the existence of the entity with the relevant Secretary of State.
<American companies historically are driven to look at the bottom line. This is in contrast to German companies, which tend to focus on technology; or Japanese companies, which tend to focus on geography. While the bottom line focus does show a snapshot of company performance, it reveals nothing of what generated that final number OR what can be done to improve it. BUT we use it
Corporate Records
When forming a corporation or limited liability company, you are creating an entity independent from yourself. In so doing, this independent entity must take actions for itself, not you. For instance, a corporation will have a corporate bank account through which all revenues and debt payments are handled. As a shareholder, even with a single shareholder entity, you will not pay person expenses out of the corporate bank account. This concept extends to record keeping.
For the purpose of this article, I am considering both corporation and limited liability company documents as “corporate records.” Although the records of each entity have different names, they serve the same purpose. For instance, articles of incorporation for a corporation serve the same purpose as Articles of Organization. The following list applies to corporations, but you can apply the list to the limited liability equivalents.
Although each state has different records requirements, all require you to keep the following records.
1. Articles of Incorporation – The charter establishing the existence of the entity with the relevant Secretary of State.
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For the purpose of this article, I am considering both corporation and limited liability company documents as “corporate records.” Although the records of each entity have different names, they serve the same purpose. For instance, articles of incorporation for a corporation serve the same purpose as Articles of Organization. The following list applies to corporations, but you can apply the list to the limited liability equivalents.
Although each state has different records requirements, all require you to keep the following records.
1. Articles of Incorporation – The charter establishing the existence of the entity with the relevant Secretary of State.
<You may not quite know it, but the limited liability corporation (others also call it a limited liability company) has become the most popular form for organizing business and investment activities. There are many benefits to be derived from a limited liability corporation.For instance, if you are a doctor, lawyer or some other professional and you want to protect your assets
For the purpose of this article, I am considering both corporation and limited liability company documents as “corporate records.” Although the records of each entity have different names, they serve the same purpose. For instance, articles of incorporation for a corporation serve the same purpose as Articles of Organization. The following list applies to corporations, but you can apply the list to the limited liability equivalents.
Although each state has different records requirements, all require you to keep the following records.
1. Articles of Incorporation – The charter establishing the existence of the entity with the relevant Secretary of State.
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Although each state has different records requirements, all require you to keep the following records.
1. Articles of Incorporation – The charter establishing the existence of the entity with the relevant Secretary of State.
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Although each state has different records requirements, all require you to keep the following records.
1. Articles of Incorporation – The charter establishing the existence of the entity with the relevant Secretary of State.
2. Bylaws – The rules of the corporation. Essentially, the bylaws set out how the corporation will be administered from a procedural perspective, the rights of shareholders, how meetings will be called and so on.
3. Board Resolutions – These are resolutions passed by the Board of Directors from time to time, such as defining classes of corporate stock and approving particular courses of action for the business.
4. Minutes of Shareholder Meetings
5. Annual Meeting – Every state requires a corporation to have at least one meeting of the board of directors each year. Keep these in your corporate book.
6. Shareholder Communications – Copies of all communications to shareholders. Most states require you to hold these for three years, but you should keep these permanently to guard against future shareholder lawsuits.
7. Shareholders – A list of shareholders and the shares they own.
8. Annual Report – Most states require you to file an annual or bi-annual report with the Secretary of State. Keep copies of these in your corporate recor
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