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There are two primary reasons why documenting
corporate actions with proper meeting minutes and corporate
resolutions is important.
1. To document that the Board and
Shareholders are properly filling their fiduciary
obligations to the corporation and the shareholder.
A resolution can document the process and conclusion
that the board reaches and can demonstrate that matters
pertaining to the corporation and its business were
properly considered.
2. To document that the corporation
is following corporate formalities and acting as a
separate entity, separate and distinct from the individual
owners. Well documented corporate actions will
provide a strong case that the limited liability to
the shareholders should be maintained thereby insulating
their personal assets from claims by creditors to
the corporation.
In spite of the importance of maintaining
proper corporate records, resolutions and meeting minutes,
it is shocking at how few small business corporations
actually perform this simple act.
Our corporate resolution and meeting
minute forms package makes it easy and inexpensive to
maintain your corporation through proper documenting
of corporate resolutions and meeting minutes
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