March 21, 2020
Q.: I am the sole shareholder and director of a closely held corporation. I have failed to keep my board minutes book updated for several years. How do I go back now and update the board minutes? I know that corporate records cannot be falsified, so if I write minutes for board meetings that should have occurred years ago, wouldn’t I be falsifying records? A.: You are not falsifying records if you are accurately recording (albeit at a later date) what transpired in the past. If you start making up stuff or inserting information that didn’t actually happen in your board minutes, then you’re in danger of falsifying. To avoid the challenge, you can draw up the board minutes for, say, 2004, but date them today (or whenever you write the minutes). And be sure to keep current with your board minutes going forward. What other law questions do you have about company ownership and board meetings? You deserve to be paid, protected, and prosperous. Kaufman Business Law can help get you there.…
Continue ReadingWe noted in the previous post that the three “C’s” of good customer service are competency, communication, and creativity. Are you competent to serve the customer market you’ve chosen? Competency has two factors: choosing and…
Read MoreMy colleague Rush Nigut recently posted a piece in his blog about a little-known provision of Iowa law that could invalidate shareholder agreements after 10 years. Think about it: You’re humming merrily along with your…
Read MoreHave you ever felt “forced” to do something you really don’t want to do? Attending a family function for your in-laws, contributing to a particular charity you don’t care about for a colleague, sitting through…
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