With only a few weeks left in 2014, many of my small business clients are re-appearing to prepare for their year-end evaluations and preparations for 2015. As lawyers (and accountants even more so) know, this year-end period is a perfect time to get those last minute items off of your to-do lists and get the plate set for a prosperous 2015.
For my New York clients, they remember the requirements of New York Business Corporation Law § 602 for an annual meeting of shareholders and the corresponding minutes and notations in their corporate books. In New Jersey, the corresponding provision is N.J.S.A. 14A:5-2, which similarly requires an annual meeting, but, if no other date is provided for in the company by-laws, shall be held at noon on the first Tuesday of April.
For small businesses (even those that are a sole proprietorship), this corporate requirement is often the last thing on the owners’ minds with all of the other things that go into the daily operations. But at the same time, it takes only a short conversation with your attorney to get the paperwork put together and executed and you can go about your business.
For more information or for assistance with your corporate books and records, please contact me by telephone at either (718) 568-0221 or (908) 698-0417, or through my website www.AndrewMAyers.com.