Minutes of Organizational Meeting

First Shareholder Meeting

The minutes of the first shareholder meeting is meant to be an organizational meeting to ratify and agree on all the actions of the incorporator, elect directors and officers if it’s a small held corporation.

The other items of importance are:

• Looking over the articles of incorporation
• Electing the initial directors or approving the appointments on the articles of incorporation
• Electing the initial officers or approving the appointments on the articles of incorporation
• You can do the initial directors meeting at the same time if all the shareholders are directors or the non-shareholder directors are present
• Documenting the amount of shares each person has been issued
• Documenting or including the issuance of shares agreement and the values placed upon the shares

A first shareholder meeting is mostly regurgitating a lot of info you already have filed on the articles of incorporation with the State. Typically a “Incorporator” files the articles of incorporation with the Secretary of State or Corporations Division. The most important thing that a first shareholder meeting or organizational meeting goes over is the issuance of shares to the shareholders and the value each shareholder is giving to the corporation in exchange for those shares. We have a separate form you can also use for the bill of sale of shares.

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