Shareholders’ Organizational Meeting Minutes

The Shareholders’ Organizational Meeting documents serve to keep a record of all the matters discussed and decisions approved by shareholders and incorporators of a corporation in an organizational meeting.

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As a part of corporate governance procedure, corporations often hold organizational meetings between key shareholders to make decisions and pass resolutions about the company's operations. During those meetings, it's essential to keep an accurate record of events since the decisions and discussions form a part of the company's official records. Typically, an organizational meeting is the initial meeting to formalize the corporation's formation and document introductory operational issues.

The secretary or appointed chairperson at the meeting records these events and resolutions in the Shareholders' Organizational Meeting minutes.

What Is a Shareholders' Organizational Meeting?

The Shareholders' Organizational Meeting minutes are an internal legal document recording an organizational meeting involving the organization's shareholders and collaborators. If recorded accurately, the minutes are then a basis for operational activity within the organization. The Shareholders' Organizational Meeting minutes don't need to go into painstaking detail and faithfully summarize critical decisions.

Within the context of an organizational meeting, shareholders may decide to:

  • Set the start and end date of the corporation's fiscal year.

  • Appoint or remove directors.

  • Appoint any corporate officers, such as the president, secretary, or C-suite executives.

  • Approve internal management bylaws of the corporation or draft new bylaws.

  • Ratify the articles of incorporation.

  • Discuss and approve the issue of initial shares and how future shares will be handled.

Other Names for Shareholders' Organizational Meeting

Depending on your state, a Shareholders' Organizational Meeting may also be known as:

  • Initial Shareholders' Meeting Minutes

  • Minutes of the First Shareholders' Meeting

  • Stockholders' Meeting Minutes

  • First Organizational Meeting Minutes

Who Needs a Shareholders' Organizational Meeting

The incorporators of a corporation use a Shareholders' Organizational Meeting form. More specifically, the corporation's secretary or an appointed chairman drafts the Shareholders' Organizational Meeting document and ensures its contents' accuracy.

Current and future shareholders and officers may use the document to confirm the initial organizational meeting decisions still apply. Furthermore, as a part of the corporation's official acts, the document may be used by state or federal authorities in researching the corporation's activities.

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How to Create a Shareholders' Organizational Meeting with 360 Legal Forms

Shareholders' Organizational Meeting minutes should be formatted following corporate governance standards since they may rely on third parties when doing business with the corporation. With our proprietary form generator, all you need to do is answer a few simple questions about the meeting. We will generate a document that fits the regulations in your jurisdiction.

Let 360 Legal Forms help with our extensive library of attorney-vetted legal forms. The process is fast and easy. All you have to do is fill out our easy-to-understand questionnaire. Once complete, simply download your form as a PDF or Word document from your secure online account.

What Information Will I Need to Create a Shareholders' Organizational Meeting

To create your document, please provide:

  • Governing State: The state where the corporation is incorporated

  • Corporation Details: The name, formation information, and other relevant details of the corporation

  • Shareholders: The identities and titles of all the shareholders and others present at the meeting

  • Meeting Details: The time, date, location, and purpose of the organizational meeting

  • Resolutions: A summary of all the critical decisions approved at the organizational meeting, including but not limited to the identities of any elected officers, the location of the corporation's registered offices, decisions about the corporate fiscal year, and any other actions ratified by the shareholders

  • Meeting Conclusion: An account of who voted and how on the resolutions and when the meeting ended

Shareholders' Organizational Meeting Terms

  • Shareholder: An individual or entity owning shares of stock in the corporation is also referred to as a corporation member.

  • Incorporator: A person or group of people who organized the corporation and filed the articles of incorporation.

  • Motion: A request for the members of the corporation to decide on an administrative issue.

  • Officer's Resolution: A decision or action decided and authorized by the members or managers of a corporation.

  • Minute Book: In a company's context, a minute book is a written document or group of documents with all the corporation's records. It can include any legal documents such as bylaws, company resolutions, annual reports, or meeting minutes.

Shareholders' Organizational Meeting Signing Requirements

The Shareholders' Organizational Meeting document is signed by the secretary or appointed chairperson responsible for guiding and managing the meeting. Additionally, the document can also include signatures of the shareholders present at the meeting.

As an internal organizational document, the Shareholders' Organizational Meeting signatures do not have to be notarized or witnessed.

What to Do with Your Shareholders' Organizational Meeting

Once signed, file a copy of the Shareholders' Organizational Meeting minutes with the other corporate records. It's recommended to keep Shareholders' Organizational Meeting minutes and similar documents for at least seven years and, if possible, for the corporation's entire lifetime.

The Shareholders' Organizational Meeting document does not need to be filed with any state or federal authority or records office.

Frequently Asked Questions

Any corporate action that’s voted on in a meeting of the board of directors of a corporation. Typically, it takes the form of a legal document but may be part of a broader document, such as a Shareholders' Organizational Meeting. A common corporate resolution is the authorization of specific individuals to act on behalf of the corporation in legal and financial matters.

In certain states, keeping accurate records of corporate meetings is required by law. Moreover, accurately drafted meeting minutes serve to separate the legal entity status of a corporation from its shareholders and protect them from liability. And, government authorities may use corporate minutes to corroborate that a corporation is acting as a legal entity rather than an individual or group of individuals in their own interest.

S-corporations are governed by state laws similar to those that govern other types of corporations. Some states require corporations to hold shareholders’ meetings on a regular schedule and keep a record of those meetings. Even if you are the sole owner of a corporation, you may be expected to document shareholders’ meetings.

Any member, director, or officer of the relevant corporation is entitled to request a copy for the Shareholders' Organizational Meeting. Moreover, certain state and federal authorities may request a copy of the document and failure to provide it could result in legal action against the corporation.

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Applicable to all 50 states
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Our documents are vetted by lawyers and are applicable to all 50 states.