Informal Notes
Informal Notes
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Informal Notes of your shareholders' and directors' meetings may
contradict or weaken the evidentiary effect of your corporate minutes which are
official records of your shareholders' and directors' meetings. Both
your corporate minutes and any known informal notes of the meetings are subject
to discovery by creditors, other plaintiffs and the IRS during litigation so it
is better not to retain such informal notes along with your official corporate minutes.
See Discovery in a
lawsuit.
Disclaimer: The foregoing is intended to provide general information and may not be suitable in specific instances. The glossary information is not intended to be exhaustive, but rather to illustrate typical considerations. The material is provided with the understanding that it is not legal, accounting, tax or any other professional advice.
Disclaimer: The foregoing is intended to provide general information and may not be suitable in specific instances. The glossary information is not intended to be exhaustive, but rather to illustrate typical considerations. The material is provided with the understanding that it is not legal, accounting, tax or any other professional advice.
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