What are Meeting Minutes and Corporate Resolutions?
The Meeting Minutes maintained by a corporation, and often LLCs, are intended to document and memorialize the discussions and agreements made during a specific company meeting. The format for the Meeting Minutes for an Annual Meeting of Shareholders or Annual Meeting of Directors should be carefully planned and structured.
However, during the course of a given year, a corporation or LLC should maintain meeting minutes for certain types of activities that could have an impact on corporate rights and responsibilities. Certain meeting minutes also contain one or more “Corporate Resolutions.” Such a “resolution” usually occurs within the body of meeting minutes.
For example, a bank may require a “Corporate Resolution” which is recorded in the form of meeting minutes where “It is hereby resolved that … shall open a bank account with Bank of SampleBank.”