Minutes of meeting template
An LLC can hold an annual meeting to go over its activities from the year past. This is important for multiple member LLCs or Manager managed LLCs. It is basically pointless for a single member LLC that is member managed unless you’re really holding a meeting with your CPA and Attorney to really go over the direction of your single member LLC. Most states do not require you to hold an annual meeting to take meeting minutes of an LLC. That is pretty much the point of you forming an LLC instead of a corporation. LLCs were made as a hybrid of a Corporation and Partnership to create an entity that is easier to maintain. Basically every state has some type of law that says something like: Failure to hold meetings and uphold any internal formalities of an LLC does not constitute piercing the corporate veil or the validity of the LLC.
So if you’re a single member LLC that is member managed and don’t want to pay an attorney or CPA to hold a meeting with you, you’re basically wasting your time because you’re not going to argue with yourself over anything. Or at least let’s hope you’re in agreement with yourself.
Multiple member LLCs and manager managed LLCs should go over things at least once a year. Though this is annoying, keeping everyone on the same page will turn out to be valuable if you ever get in a disagreement. Everything with multiple member LLCs and manager managed LLCs usually flows quite nicely until someone is upset with the other member or manager. Looking at the rules that govern your LLC and the agreement you have amongst yourselves may prove helpful in avoiding wrong interpretations or ideas of the management and affairs of your LLC.
If you have not established an LLC operating agreement, please take the time to use one of our free LLC agreements on the side of this page.
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