Colorado Secretary of State Scott Gessler is notifying Colorado businesses of another possibly deceptive solicitation issued by “Compliance Services.” The entity has mailed solicitations titled “Annual Minutes Requirement Statement Directors and Shareholders” to businesses in Colorado. These solicitations offer to prepare documents to satisfy the annual minutes requirement for a $125.00 fee. Though most corporations are required to keep records of annual minutes, they are not required to file these records with any third party.
Although the solicitations contain disclaimers stating that “The preparation of minutes of annual meetings does not satisfy the requirement to file the Periodic Report required by COLORADO REVISED STATUTES Section 7-90-501,” the solicitation is creating confusion. Please be aware, the minutes of annual meetings are not required to be filed with the Colorado Secretary of State’s Office or any other government agency or third party. In addition, records of annual meetings are separate from the annual report filing with the Secretary of State’s Office, which for most businesses is just a $10 fee, online at www.sos.state.co.us.