First Board Meeting Minutes

Ideally as soon as you receive the approval to go ahead with your company, a board meeting is deemed necessary with all the directors of the said company. The minutes of this meeting are a written record of whatever happened during the meeting which should be meticulously recorded and filed as per legal requirements. This is also applicable even if you are the only director currently present in your company. All the proceedings of this meeting should be documented including the names of everyone who have attended the meeting. This meeting is held in order to account for important decisions regarding the functioning of the company and points such as the articles of associations, assigning individual roles and responsibilities become the agenda of this meeting. Through this meeting- the following objectives are ideally met- planning out the goals of the company, setting up a bank account meant strictly for the business, allotting different shares of the company as well as issuing
certificates for the same.

An accurate record of the minutes of the first board meeting is extremely important in case of likely arguments and disagreements that shall arise in the future affecting the company. Every opposition and agreement that were made on specific points are recorded in this. A certain format is followed for recording the minutes. In case any director was not able to attend the meeting, he or she is given a copy of this minutes which is useful in case they want to make any amends on any of the decisions.

 

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