Avoiding Corporate Amnesia One Set of Minutes at a Time
by Jennifer Villier, JD | Business Law Faculty, WealthCounsel
A recent case out of the 7th Circuit Court of Appeals—Samaron Corp. v. United of Omaha Life Insurance Company—once again illustrates the importance of proper recordkeeping for closely held corporations. Failure to do so often has devastating effects. In this case, a company lost out on life insurance proceeds due to falsification of corporate minutes.
Download this Insight Brief to learn more about the case and 3 reasons that it is instructive for attorneys counseling closely held business clients.