Minutes

When a corporation has a meeting (such as an annual meeting of shareholders or a quarterly meeting of directors) a formal record of the meeting, called minutes, can be prepared and signed. For corporate minutes, these are often stored in formal record book for the corporation called a corporate kit. For many closely held businesses, instead of a formal meeting, a written document is signed called a “consent” is used instead of a meeting.

Partnerships and Limited Liability Companies can also have meetings of partners or member (or general partners or managers) and draft and sign minutes as a record of the agreements or actions.