How often should the minutes book be updated?

There is no single date by which the entire minutes book must be updated. In practice, corporate documentation should be updated as decisions and changes occur within the company.

An update may be necessary, in particular:

• during the annual decisions of the shareholders and directors, as well as during any other decision taken by the directors or shareholders;
• upon the appointment, resignation or replacement of a director or officer;
• during the issuance, transfer, redemption, purchase or cancellation of shares;
• during an amendment to the articles of association or other constitutive documents of the company;
• when a dividend is declared;
• during any other decision or operation that must be recorded in corporate documentation, including in registers, and that may require updating with regulatory authorities.

Certain formalities must be completed within legally prescribed time limits. It is therefore preferable to document changes as they occur rather than waiting for an annual update of the book.

A periodic review, particularly during the company's annual formalities, also allows verification that the registers and other corporate documents still accurately reflect its situation.

In summary , the minutes book should not be updated only once a year. Corporate documentation should be updated whenever a decision or change requiring recording occurs, and then reviewed periodically to ensure accuracy.