Users' questions

Who takes the minutes in a board meeting?

Who takes the minutes in a board meeting?

The secretary of the board
The secretary of the board usually takes minutes during meetings. Written minutes are distributed to board members before each meeting for member’s review. Minutes for the previous meeting should be reviewed right away in the next meeting.

Do board meetings need minutes?

For one, board meeting minutes are critical for maintaining a historical log of decisions, and they’re also imperative for meeting legal requirements of your nonprofit organization.

Who keeps the minutes in a meeting?

A minutes taker is the attendee at meeting whose role it is to record the minutes of the meeting. The note taker may be a formal, professional note taker, whose only job is to take notes, or they may be an active participant in the meeting who has taken on the role for that specific meeting.

Are board minutes available to shareholders?

Shareholders may request to see the minutes but, notes Fried, “there’s no legal requirement that you must give them a copy.” While each building operates differently, some boards allow shareholders to read the minutes, but not receive copies.

What should not be included in a meeting minutes?

What not to include in meeting minutes

  • 1 Don’t write a transcript.
  • 2 Don’t include personal comments.
  • 3 Don’t wait to type up the minutes.
  • 4 Don’t handwrite the meeting minutes.
  • 1 Use the agenda as a guide.
  • 2 List the date, time, and names of the attendees.
  • 3 Keep minutes at any meeting where people vote.
  • 4 Stay objective.

How long must board minutes be kept?

10 years
Whilst the Companies Act 2006 requires that board minutes must be retained for at least 10 years, ICSA recommends that they are retained for the life of the organisation. ICSA recommends that any written notes of the meeting should be retained until the minutes are approved and then destroyed.

What is the difference between a shareholders meeting and a board meeting?

At a board meeting, it is the majority of directors who attend the meeting as long as there are enough directors there to form a quorum. At a shareholders’ meeting, there can either be a ‘show of hands’ or a vote if requested.

Do you have to take the minutes of a condo meeting?

For brief or informal meetings, minutes may be helpful, but not necessary. However, for official meetings that require a quorum, well-taken minutes are absolutely imperative. Minutes of owners’ and board meetings are part of the minute book mandated by the Condominium Act.

Can a unit owner request the minutes of a board meeting?

When a unit owner requests a copy of the minutes from a board meeting, can the board instead provide just a list of motions that were passed and approve the minutes of previous board meetings? No.

What should be included in a condo minute book?

A good minute book includes a complete record of all meetings and resolutions of directors from each meeting. Minutes should also thoroughly describe financial figures and accurately represent the condominium’s financial standing. An official minute book needs to contain: The signed minutes of all meetings;

When do Board of directors minutes have to be released?

Board meeting minutes, minutes proposed for adoption (“draft minutes”), or a summary of the minutes, of any board meeting (other than executive session) must be made available to the association’s members within thirty (30) days following the board meeting.

Do Condo boards have to take minutes?

In addition to any of the requirements found in the Act, condo corporations can and usually do have by-laws that regulate board meetings. Board meeting related by-laws must comply with both the Act and the condo corporation’s declaration. The Act requires minutes to be taken at board meetings.

Are unit owners entitled to attend condo board meetings?

The only people who are entitled to attend board meetings are the directors, however, condo boards regularly invite individuals to attend board meetings as guests. Typical attendees include condo management individuals (if the condo has any), unit owners and/or residents with matters to discuss with the board, and professionals that the board is conducting business with.

What should be included in the board minutes?

  • Date and time of meeting;
  • Whether the meeting is a special or regular meeting;
  • Whether notice was given or a waiver of notice signed by all directors;
  • Names of directors in attendance and directors not in attendance;
  • if relevant);
  • Whether a quorum was established;

    What are board minutes?

    Board Minutes. Board minutes are a product of each meeting of a company’s Board of Directors, where one individual will be designated secretary of the meeting, and will be responsible for preparing minutes, essentially written notes, memorializing the discussions by the Board and setting forth any formal resolutions adopted at the meeting.