Corporate Requirements After Incorporation
An important first step after receiving your company's incorporation documents is to hold an initial meeting to appoint officer and directors, as well as to issue shares of stock.
Directors typically operate as part of a Board, making up the governing body elected by shareholders. They are responsible for the management of a corporation's business and affairs. Officers consist of roles such as President, Vice President, Treasurer, and Secretary. They are responsible for carrying out the Board's policies and for making day-to-day decisions. Shareholders are included in annual meetings and must approve any major company decisions, such as issuing loans, purchasing real estate, and issuing additional shares.
It is important to hold annual meetings with shareholders and maintain minutes of those meetings. In general, maintaining a thorough corporate record means recording all meeting minutes, using a share ledger, and saving copies of all filed documents (formation, amendments, annual reports, etc.). Make sure to maintain good standing with your state and registered agent by filing all annual reports and paying necessary taxes and fees on time.