What Is an Annual Meeting of LLC Members?
An annual meeting of members is the yearly gathering of LLC owners to review the company’s performance, elect or re-elect governors, approve financial reports, and ratify management actions taken during the prior year. Unlike the initial meeting of members, which organizes the company at formation, the annual meeting is a recurring governance event that maintains the LLC’s formal structure over time.
Holding annual meetings and documenting them with proper minutes helps preserve the liability protection that the LLC provides. Business owners and attorneys can use the example below as a template. Requirements may differ depending on the LLC’s Member Control Agreement and applicable state law. It is important to consult an experienced business lawyer before conducting an annual meeting.
Annual Meeting of LLC Members Template
ANNUAL MEETING OF THE MEMBERS OF [COMPANY], LLC
The Annual Meeting of the Members of [COMPANY], LLC (the “Company”) was held at the registered office of the Company on [MONTH DATE, YEAR]. The following Members were present and duly signed Waiver of Notice of said Meeting:
[MEMBER NAME] [MEMBER NAME]
[CHIEF MANAGER NAME], the Chief Manager of the Company, called the meeting to order.
Chief Manager’s Report
The Chief Manager gave [HIS/HER] report detailing the Company’s past performance, present circumstances, future prospects, and other matters of interest to the Members. After due consideration, the Chief Manager’s report was accepted.
Financial Report
[TREASURER/CHIEF MANAGER NAME] presented the financial report detailing the Company’s financial situation and financial developments during the past fiscal year. After due consideration, the financial report was accepted.
Election of Governors
Nominations were called for the election to the Board of Governors. Upon nomination duly made and seconded, the following individual was unanimously elected as the Company’s sole Governor to serve for the ensuing year or until [HIS/HER] successor is elected and qualifies:
[ELECTED GOVERNOR NAME]
Ratification of Actions
Upon motion duly made, seconded, and carried, it was:
RESOLVED, that acknowledgment was taken and approval made of the actions of the Board of Governors for the past fiscal year.
RESOLVED, that acknowledgment was taken and approval made of the actions of the Chief Manager for the past fiscal year.
[OPTIONAL ADDITIONAL RESOLUTIONS]
RESOLVED, that the Chief Manager of the Company is authorized to [DESCRIBE AUTHORIZED ACTION].
There being no further business, on motion, the Meeting adjourned.
____________________________ [SECRETARY NAME], Secretary
How to Use This Template
Copy the template text above into your word processor and replace each [BRACKETED FIELD] with your company’s information. Adjust the number of Member names and Governor positions to match your LLC’s ownership and governance structure. Add or remove optional resolutions as needed for your meeting’s agenda.
More Business Templates
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