Let me start off by saying that in small business it’s important to be and stay organized. Yes, I know it’s hard and to be frank I have a hard time staying organized myself. As such, I decided to come up with a list of commonly known tabs (or sections) that every entrepreneur should have in there “minute book” or electronic “minute book”. What is a minute book, you ask? A minute book is a book of all your companies’ important and material information such as your incorporation, any banking or loan agreements, and annual returns.
The idea behind a minute book is that anyone can open up the book and have a very good idea where things are, what’s going on with the company and most importantly who (shareholders, directors and officers) authorized what, and who is responsible, and what took place to make those specific decisions.
Here are a list of must have tabs that you should have in your minute book:
- Certificate and Articles of Incorporation (Registered documents received from Corporate Registry).
- Unanimous Shareholder Agreement
- Directors’ Meetings
- Shareholders’ Meetings
- Annual Returns
- Share Certificates
- Agreement/Leases and Financial Statements