LLC/corporation annual meeting question:
What is the definition of “annual” as stated above? Is it once per year of the business, or once in a calender year?
In other words, if your LLC was formed in June of 2006…do you have to have the annual meetings by June of 2007, or is it anytime in the calender year 2007?
calendar year. record minutes of the previous year’s results.
I think you’d want to check your operating agreement – i.e., your LLCs governing document – and do what it says.
Every attorney I’ve ever talked to about this says (1) you want an operating agreement and (2) you want to honor its terms.
Some states allow virtual meeting via telephone. Like Steve says, the OA is the final authority on what is required. Nolo puts out a good book on running an LLC for beginners.