Buy / Sell Agreement: Depending on the economy or state of your industry, the current value of your business may have changed and this can have major repercussions when it comes to a buy/sell agreement. In a multiple-owner LLC or Corporation, not having a buy/sell agreement can create unforeseen problems upon the death, divorce or disability of an owner.
Corporate and LLC Biennial Reports: Generally most entities are required to file Biennial Reports with the Secretary of State and pay a fee. This is not difficult or expensive and failure to do will result in an administrative dissolution of the entity.
Annual Shareholders/Members and or Directors/Managers Meeting Minutes: Pursuant to and in compliance with the organization’s Operating Agreement or Bylaws, annual meetings are normally required and proper documentation thereof should be produced and kept.