LLC Organizational Meeting Minutes

Besides being necessary in some cases as a part of the process of incorporation, meeting minutes serve to protect the members of an LLC from business liabilities. They establish the LLC as a separate legal entity from its members and prevent third parties from targeting the members personally for debts or actions incurred or taken by the LLC.

While both documents record roughly the same event (i.e. the formational framework of an LLC), the LLC Organizational Meeting Minutes are an internal document for the members of an LLC while the Articles of Incorporation are a set of documents filed with the governing state body.

States generally require that an LLC is represented by a registered agent to ensure clear lines of communication between the state and the company. The registered agent has a physical office in the state and its job entails facilitating any process between the state and the LLC.

Membership certificates document the degree of ownership interest in an LLC. They’re similar to corporate stock certificates except they’re used in the context of an LLC as opposed to a corporation.

Typically, members are owners in an LLC. In other words, they hold an interest in the company, much like a stockholder in a corporation. Managers, on the other hand, are elected by the members of an LLC to perform administrative duties and serve a similar purpose to directors in a corporation. Members can also be managers in an LLC.