Do you know where your corporate book is? If you don’t, you should try to find it. Why? In addition to containing the Annual Minutes of Meeting (which you are required by law to maintain), it contains your Bylaws, your share certificates and ledger, as well as your Corporate Seal. Many financial institutions will not allow you to open or change your business accounts without a Bank Resolution impressed with that Corporate Seal.
You corporate book holds the documents that you will need to protect yourself if someone ever files suit and tries to go against you personally (trying to pierce the corporate veil) claiming that the corporation is your alter ego or a sham or fraud.
If you are one of the folks that just filed the paperwork with the Secretary of State and paid your filing fee and created a corporation, with nothing more, you might find that you don’t really have the protection that you thought you had.
It is not too late. If you need assistance preparing Bylaws, ordering a corporate book, issuing shares, and preparing your Minutes from the Annual Meetings of Shareholders and Annual Meetings of Directors, please give us a call. We can help.