What Is the Legal Purpose of Meeting Minutes
Step 4: Tabling and Approval – The minutes of the meeting must contain the name of the person who submitted the minutes and the name of the person who approved the minutes. The Chair usually reviews and approves minutes for distribution. Step 3: Write the minutes – Based on the detailed notes, the recorder then writes the final version of the meeting minutes. The recorder should do this as soon as possible while the meeting is still fresh in your memory. Many companies use a standard meeting minutes template that contains the following information: However, if the minutes meet the definition of a contract under the Code, they meet the substantive requirements to be a contract. If all parties to the Protocol unanimously express their true intention with respect to the Protocol in a clear, precise and enforceable manner, and all parties agree to be bound by them, this record can be considered a civil contract and thus become a legally recognized contract. The Supreme People`s Court issued its findings on the basis of this principle in Shanxi Zhangze Electric Power v. Shanxi Guangjian Real Estate (2013) and Gezhouba Group v. Hainan Zhonghui (2016).
The person who writes the minutes of the meeting may be a professional note-taker, such as an assistant present solely for the purpose of recording the meeting. Minutes of the meeting may also be drawn up by one of the meeting participants. Once the minutes have been approved, shred all notes and audio or video recordings of the meeting. The approved final minutes should be the only record of the meeting that you distribute and keep. You can use this template to ensure that your meeting minutes are complete and effective: [Meeting Name] Meeting Minutes Location: [Address or name of meeting room] Date: [Date] Time: [Time] Participants: [List of names] Should single-member LLCs and sole shareholders also keep minutes? At the beginning of the meeting, note who joined the attendee list and who didn`t. You need to know who is who so you can accurately document who said what – if you don`t already know, presentations are needed at the beginning of the meeting. Despite the flexibility available to organizations to create their “event reports,” the following suggestion from Robert`s Rules of Procedure is worth considering: “In regular social meetings and meetings of boards and directors, there is no need to report on the proceedings; The duty of the clerk of the court in such cases is primarily to record what is “done” by the assembly, not what is said by the members. There are many ways to write minutes of meetings, but they should always be in a professional format and contain important information. No matter how meeting minutes are written, they should always include the following: Most state commercial laws require companies to keep minutes of meetings as part of corporate governance.
The S Corps and C Corps are subject to the laws of the state that govern corporations. Most states require companies to hold an annual meeting and keep minutes of meetings. Minutes of meetings do not need to be filed with the Crown, but a company must maintain an organized record of meeting minutes. If a business has only one owner, it may seem absurd to keep regular minutes of meetings conducted by the owner alone. Nevertheless, a single owner may be best placed to benefit from this practice. In cases where there is only one owner, not separating business and personal affairs often makes it easier for a claimant to argue that the formalities of the business have been ignored and that there should be no limited liability protection for the owner. If you are the sole owner, regularly take the time to document important business events and decisions. This will provide further proof that you and your business are separate and should be treated as such to protect you from liability for the company`s debts or obligations.
As mentioned earlier, one of the biggest benefits of recording meeting minutes is giving your organization a sense of transparency. It is important that minutes of meetings are accurate, as they can provide legal protection, as meeting notes are considered official documents.