Maintaining Your Minute Books

It seems that every other week, I come across another case of minute books put together by a private corporation that have been completed with an attitude of "this will be good enough." Nine times out of ten, the estimate of what is good enough is off the mark, sometimes wildly. Usually, unfortunately, the point where we are finding out about minute book deficiencies is also the point where fixing them is expensive and time-consuming.

I want to focus on one aspect of proper minute book maintenance today (in part because it is the one that has bitten one of my clients most recently), which is the maintenance of the share register. The share register in itself is a simple document. Quite simply, it tracks who owns what shares in the company. The making of a share register, however, is a more complicated affair.