Sole Director First Meeting Minutes – Free Template

What should a sole director’s first meeting minutes include?

Even if your entire corporation is just one person—say you’re the sole director, shareholder and officer—there’s still an expectation that your business will follow standard corporate formalities. And yes, this includes keeping meeting minutes. You don’t have to actually talk to yourself aloud in a room if you’re the only person at a meeting, but you do need to document your major decisions. Our free first meeting minute template can help you ensure you’re keeping these important records:

• General Meeting Information: Our template includes spaces to list the corporation’s name, meeting date, and location.

• Attendance: The names and addresses of all those present are listed. The template also notes the name of the sole director and gives space for the name of a director by proxy as well.

• Chairperson and Secretary Elections: The corporation elects a chairperson to run the meeting and a secretary to keep minutes. (It’s fine if you perform both of these temporary roles.)

• Quorum and Notice Confirmation: The chairperson confirms that a quorum (minimum number) of directors is present. The secretary confirms that sufficient notice of the meeting was given. If you didn’t give formal notice, you’ll to add a signed waiver to your books. Need a waiver? We have a free template for a waiver for the first director meeting.

• Approval of Key Documents: At this meeting, you’ll ratify and approve essential organizational documents, such as the Articles of Incorporation and bylaws.

• Officer Appointments and Salaries: Officers are appointed or confirmed, and the names of each officer are listed next to their titles. The wages or salaries for these positions is also decided and recorded in the minutes.

• Remuneration : Officers are directed to reimburse incorporators for their expenses (such as the filing fee to submit Articles of Incorporation).

• Bank Account: The minutes record the name of the branch and bank where the corporate funds will be deposited. The director authorizes the officers to open the corporate account and deposit funds.

• Shares: The names of shareholders, the number of shares they hold, and the money or property they exchanged for their shares is recorded.

• Other Items of Business: The template includes space for any additional items of business conducted.

• Signatures: The meeting secretary signs and dates the meeting minutes. Witnesses can also add their names and signatures.