Hello, I was just wondering if anyone can tell me what I have to do to my LLC in order to keep everything legal for example, do I have to have meetings and take minutes? Any information you can give me would be a huge help!
Thank You,
Michelle
it is essential that you have a solid operating/management agreement in place.
LLC’s don’t require annual meetings, etc, although some lenders will want “corporate resolution” type documents from time to time.
The person who set up your LLC should have provided this information to you. That is why you pay them. Anyone can file some forms with the state.
Staying “legal” isn’t as important as maintaining the LLC in such a way to maximize the protection. Some states don’t require annual meetings or minutes, but you should do them anyway. Every major decision should be documented via resolution. Don’t co-mingle funds. Use an LLC checking account. Most importantly, make sure you file the annual report and pay the fee. Failure to maintain these types of formalities makes it easier to pierce the LLC.