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Director and Shareholder Consents


Applicable Texas corporation law requires that the secretary or assistant secretary of a corporation maintain a written record of all board of director meetings and all shareholder meetings.  These written records are often referred to as "minutes".
 
However, most closely owned corporations prefer to document their "minutes" by utilizing unanimous written consents in lieu of actually conducting shareholders meetings or directors meetings.  As long as all of the corporationís directors (or an agreed lesser percentage) and all of the corporationís shareholders (or an agreed lesser percentage) agree upon the actions, actual meetings do not have to be conducted so long as everyone (or an agreed lesser percentage) executes a written consent setting forth the approved actions.

I regularly assist clients in the preparation of unanimous written consents in lieu of actually conducting shareholders meetings or directors meetings.
 
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