Are businesses required by state or federal law to keep minutes on meetings pertaining to the business?

UPDATED: Jul 14, 2011

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Are businesses required by state or federal law to keep minutes on meetings pertaining to the business?

Do all business with the exception of an LLC have to minutes of their meetings?

Asked on July 14, 2011 under Business Law, Missouri


FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

It all depends on whether or not the business is a corporation, limited liability company, sole proprietorship, or partnership. 

Custom and practice (as well as most State laws) require corporations or limited liability companies that are created or doing business in the State to keep annual minutes about important events decided by the board of directors or managers. The minutes requirements on meetings do not pertain to ordinary day to day business affairs of the particular entity.

To have minutes regarding day to day operations of a corporation or limited liability company would be too burdensome and costly for a company. Annual meetings for these entities are spelled out in the bylaws or articles of organization.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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