A corporation should have annual shareholder meetings and annual director meetings. The shareholders will elect the members of the Board of Directors for the following year, and the Directors will elect the Officers for that year. The minutes should reflect those in attendance and the results of the elections.
Additional meetings should be held in the event of an extraordinary transaction (such as the sale of the company), in the event of a vacancy on the Board of Directors, or when a major decision requires approval of the Board of Directors.
