Whether you choose to incorporate or create a Limited Liability Company, you are making a wise choice to shield yourself from the liability of the company. California allows business owners to limit their liability as long as the business is not run as an “alter-ego” of the individual. Business Attorney Anthony J. Dispoto will help you decide which business structure is right for you to protect your interests. He will also make sure that you are adhering to all corporate or limited liability company laws to ensure maximum protection of your interests. To maximize the benefits of forming a new company, it is vital to get the advice of a competent legal advisor early.
Many people think LLCs are easier to run than corporations because the managing members of an LLC have fewer governance requirements. This is not always true. It is very important to make sure that your company, whether it is a limited liability company or a corporation, documents its decisions regularly. Regular documentation will keep your business in good standing with the state, and failure to follow such regulations can cause you to lose your limited liability protections. Among the requirements are annual or bi-annual filing, government-issued forms, meeting minutes, statements of information, and business licenses.
California requires corporations to file Statements of Information with the Secretary of State within the first 90 days of filing the Articles of Incorporation and every year after in the same month. Limited liability companies are required to file similar Statements of Information within the first 90 days of filing the Articles of Organization and every other year afterward. This is the best way to keep the state informed of your business operations. The Statement of Information will have all the information the Secretary of State requires to keep track of your business.
Meeting minutes are a record of the decisions that a company makes. These often come in the form of meetings of the board of directors, meetings of the shareholders, as well as elections of directors or officers of the company. We are more than willing to educate our clients on the creation of meetings minutes. We are also willing to assist in the preparation of the meeting minutes. Regularly keeping minutes is important for every company to do. The minutes may be used to prove that the company, its officers or the board of directors acted within their respective rights and powers. If you are having trouble understanding what is required in the meeting minutes or how to write them, consult with an attorney.