Annual and Special Meetings

Following the successful formation of a new operating entity, clients often overlook the necessity of maintaining complete and accurate record books.

Each type of entity should be maintained in accordance with the requirements set forth in the Texas Business Operations Code to avoid potentially waiving the liability protection achieved through formation. A records book should contain, at a minimum, a record of the individual owners’ interests in the entity, the operational documents executed at formation (such as the Certificate of Formation and Minutes of the Organizational Meeting), and the appropriate management documentation (such as the Bylaws, Operating Agreement or Agreement of Partnership).

In addition, the principals should hold a formal meeting not less than once each year. In the event your business engages in a transaction which could increase the long-term debt of the company or otherwise impact your company through activities outside of the normal scope of business, it is recommended that the company properly document the authority to engage in the activity through a special meeting.

Mooney Law Firm, PLLC can assist you with reviewing your existing records book and ensuring your formal documentation is accurate and current. Preparation of annual or special meeting documentation can typically be performed on a flat fee basis to provide cost assurance to our clients.

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Annual and Special
Meetings

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