Wyoming Annual Meetings

Wyoming law (as well as most other state’s laws) requires that a corporation hold one annual meeting per year. A Wyoming corporation may hold meetings anywhere in the world and in any setting. Directors and Officers may hold annual special meetings. Shareholders mist meet annually and must hold special meetings as occasions demands. Corporate bylaws should specify when and where shareholders meetings will take place.

If you are the sole shareholder and/or director of your corporation, you are not required to oddly and awkwardly speak aloud to yourself or formally vote. But you must hold regular meetings and keep track of your thoughts and decisions through the use of minutes. Document your thoughts in a minute’s form and keep these thoughts and decisions in the corporate records. Special meetings should be called whenever significant decisions need to be made. Regular (or annual) meetings and records of those meetings are evidence that your corporation acted like a corporation in making important decisions. Corporate Direct prepares annual meeting minutes for Corporations, LLCs and LPs.

The law is not crystal clear as to whether LLC/LP members or managers or partners must hold annual meetings. However, more than a handful of courts have pierced through an LLC because the court found that proper formalities were not recognized. In other words, required or not, you should hold annual meetings for the members of your LLC just as you would for shareholders in a corporation. In the absence of precedent regarding LLCs, courts will look to corporate law for guidance. The more formalities you use the more protection you have against potential liability. The best practice is to prepare annual meeting minutes for every entity you own.