Sample Annual Minutes for an Indiana Professional Corporation - Indiana 2025

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INDIANA. One or more accounting professionals, attorneys, architectural or engineering professionals, health care professionals, veterinarians, or real estate professionals may form a professional corporation to render their services.
What happens if a minute book is not maintained? If evidence is uncovered that a corporate entitys actions are not documented in historic or active record keeping, the shareholders, members, and management could lose personal liability protection a situation referred to as piercing the corporate veil.
While youre legally required to keep S corp meeting minutes for at least 10 years in California, youre not required to file them with any government agency. However, you must store them securely and have them on file and readily available for tax audits or legal purposes.
Corporate meeting minutes typically include: The meetings date, time and location. A list of attendees and absentees, including any present board members or officers. Agenda items. Summaries of all discussion points. Details of all activities completed or agreed upon. Results of any votes or motions.
Legal implications of not keeping minutes The law requires every company to take minutes of all proceedings at board meetings and to keep them for ten years from the date of the meeting.

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The minutes should summarize the outcome of the discussion, not every single point that was considered. Documents referred to in the meeting do not need to be summarized in the minutes. They can be attached to the minutes or the minutes can just indicate where to locate the documents.

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