Here is yet another case law study where an LLC owner lost their veil protection because of lack of minutes. We are sad to see these cases and we know that small business owners just need to KNOW that minutes are important and how easy it is to keep up with the required documents!
That’s why we are on a crusade to educate and assist small business owners with company minutes and meetings. Such an easy thing that could save so much money, time, and loss of assets!
Note this is a very “legal” type read by Attorney Richard Keyt (whom we highly recommend), but it is worth it to know the information so the same thing won’t happen to you.
Here’s the direct link: http://www.keytlaw.com/azllclaw/2012/02/colorado-court-pierces-llc-veil/
Topic: LLC Veil Pierced