58. Let's Take a Few Minutes to Talk Minutes

NYC Real Estate

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Host Mark Levine of NYC Property Management company EBMG is solo on this episode to talk about Minutes of the corporation.

Email the show! nycrealestatepodcast@gmail.com or call Mark directly a 212-335-2723 x.201.

What are minutes? Minutes are the official record of the actions taken and decisions made by a corporation's board of directors during a meeting.

Who takes the minutes? Usually the secretary of the corporation, although managing agents can be made "Assistant Secretary" for the purpose of taking minutes.

Minutes should be short and sweet as they are legal documents. Keeping them to motions only will help to insulate the Board from unwanted legal jeopardy and also provide a safety net for releasing them to the shareholders or unit owners, if the Board wishes.

Things to place on the minutes include:

Name of the corporation, date of the meeting, time of the meeting, attendees, absent directors, invited guests and more.

If you'd like to see a copy of sample minutes please feel free to email the show and I'll provide it to you upon request.

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