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The minutes of certain groups, such as a corporate board of directors, must be kept on file and are important legal documents. [5] [6] [7] Minutes from board meetings are kept separately from minutes of general membership meetings within the same organization. [8] Also, minutes of executive sessions may be kept separately. [9]
A business record is a document (hard copy or digital) that records an "act, condition, or event" [1] related to business. Business records include meeting minutes, memoranda, employment contracts, and accounting source documents. It must be retrievable at a later date so that the business dealings can be accurately reviewed as required.
At the annual general meeting, the president or chairman of the organization presides over the meeting and may give an overall status of the organization. [2] The secretary prepares the minutes and may be asked to read important papers. [3] The treasurer may present a financial report. [4]
The articles of incorporation typically include the name of the corporation, the type of corporate structure (e.g. profit corporation, nonprofit corporation, benefit corporation, professional corporation), the registered agent, the number of authorized shares, the effective date, the duration (perpetual by default), and the names and signatures ...
Multi-divisional forms became popular in the United States in the 1960s. Companies that did not use it tended to develop more slowly. [2] During the 19th and early 20th centuries, the unitary form (U-form) was the most common structure of the largest industrial companies.
Examples of standing committees in organizations are; an audit committee, an elections committee, a finance committee, a fundraising committee, a governance committee, and a program committee. Typically, the standing committees perform their work throughout the year and present their reports at the annual meeting of the organization. [25]
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