Corporations are required to keep notes of board/shareholder meetings held. These notes are called minutes. Minutes are used as an official record of the decisions made during board/shareholder meetings.
Minutes should include details of the substance of meetings, but do not need to be exhaustive. In addition to a record of a meeting’s substance, minutes should include the parties present, date, place, agenda items, votes taken, and resolutions passed. Because meetings are an official record, they should be reviewed for accuracy before being made final. Minutes ordinarily should be considered confidential and store accordingly.
Ordinarily the corporate secretary is tasked with the responsibility of recording and saving minutes. Minutes should be saved as the corporation’s historical documents.
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