Year End Resolutions - the Corporate Kind
At year end, we all think of resolutions. From a legal standpoint, the most important resolutions are the corporate kind.
You must conduct your annual shareholders/members meeting timely, record minutes and do resolutions. You should do so even if you are the sole shareholder and/or sole director of your company. These steps will help you maintain the ‘corporate veil’ - - see our blog post - - What are key steps to take to minimize the piercing of the corporate veil?
Assuming that your corporate year end is December 31, now is the time to perform this important task.
And doing so is not difficult. You can either hold a formal meeting, with notice, minutes, and resolutions, or, if applicable, everyone can waive notice and sign a unanimous consent.
This quick and easy task is an essential element to help insulate you from personal liability.
For more information about this article or other issues, please contact us, The Bachman Law Firm PLLC at email@example.com or 845-639-3210.