All of these things are in the company’s Minute Book by the time I’m finished:
- Certified copy of the Certificate of Incorporation
- Filing receipt from New York State
- Action by Incorporator. This is a simple, 1-page document by which the person who filed the Certificate of Incorporation appoints the first board of Directors and adopts By-laws.
- By-laws — not the Bylaws the minute book company has been sticking in their minute books for twenty years. The by-laws I provide are up-dated regularly. The By-Laws are the internal rules for running the corporation.
- Written Consent of the Board of Directors. This is one of the most important organization documents, and the one most frequently overlooked. In it, the Directors authorize a series of actions that are necessary to get the company running: open a bank account, issue shares of stock, get a Tax ID number, etc.
- Subscription letters, by which the owners become the owners, by offering to buy shares.
- Signed Stock certificates.
- A Stock Transfer Ledger—the record of who owns how much, and when they got it.
- The letter from the IRS assigning the Federal Employer ID Number.
- The filed Federal and State S Elections (Form 2553 and CT-6, respectively) if the corporation is to be an S corp.
This is the minimum of items that should be found. In addition, if there is a lease for office space, equipment leases (computers or copiers, for example), a web-hosting agreement, or any other significant contract, there should be a copy in the Minute book, and there should be resolutions approving it.