Preparation of Minutes and Resolutions

In a corporate set-up, compliance with numerous legal requirements must be observed. In the course of doing business and in the process of maintaining a corporation, preparation of minutes and resolutions as well as their maintenance must be complied with in accordance with applicable legal formalities.

Preparation of minutes and resolutions is a legally mandated form of documentation to reflect and record events and occurrences which has transpired within the four corners of the corporation. Important corporate actions and decisions, declarations, issues and discussions must be detailed and written down to evidence the event and the matters which were confronted during the meeting.

It must be noted that matters discussed which are of great importance and even matters which are trivial in nature so long as it affects the conduct and manner of doing business as a corporate entity, must be reflected and taken into account in the preparation of minutes and resolutions. Some of the focal areas which must be regarded as significant in the preparation of minutes and resolutions are the approval of corporate by-laws, election of the members of the board of directors, approval and issuance of the capital stocks.

Important corporate decisions such as declaration of cash, stock or property dividends, mergers and acquisitions, as well as corporate dissolutions must likewise be incorporated and recorded in the corporate books and must be taken into account in the preparation of minutes and resolutions.  Corporate minutes and resolutions are tedious and sometimes droning to prepare. They entail a lot of facts and fine points which have to be taken into consideration at all times. However, it bears great use and utmost importance to document all corporate acts and decisions. So to alleviate the burden of preparing these documents, we are here to assist you and provide guidelines and pointers on how to prepare and draft minutes and resolutions.