When Should You Update Your Bylaws or Operating Agreement?
Bylaws and operating agreements go stale when ownership, management, or funding changes. Here are the events that should trigger a review and what to fix.
Tag: Corporate Governance
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What Corporate Records Must a Small Company Keep?
Small companies must keep formation documents, bylaws or an operating agreement, minutes, an ownership ledger, and state filings. Here is the list and why.
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When Does a Company Need a Board Resolution?
A board resolution records a decision the directors or managers must approve, such as borrowing, issuing equity, or a sale. Here is when one is required.
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How Do You Break a Deadlock Between 50/50 Business Owners?
Two equal owners who cannot agree can freeze a company. Deadlock clauses, buy-sell triggers, mediation, and judicial dissolution are the ways out.
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What Should a Conflict of Interest Policy Include?
A conflict of interest policy should define who is covered, what must be disclosed, who decides, and how the decision is recorded. Here is each element and why.