How often doesa Board of Directors need to meet by law?
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How often doesa Board of Directors need to meet by law?
Is there a minimum number of meeting per year a Board of Directors for a non-profit org 501(c)3 have to conduct?
Asked on November 3, 2010 under Business Law, Missouri
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 14 years ago | Contributor
A not for Profit Corporation - or a non-profit as it is commonly called - is still a corporation subject to the laws of the state in which it incorporated. The 501(c) 3 designation is a designation for tax purposes really. Generally most states require that a Board of Directors meet to discuss certain issues at least once a year. But you can prepare the by-laws of your corporation - which is where the issue as to the amount of meetings is discussed and written - as you see fit and as long as they comply with state laws. So if you are thinking of forming a not for profit I would consult with a attorney in your area. Good luck.
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