This is the “birth certificate” of your business operations. Formally recording your first meeting ensures that from Day 1, JK Knockout LLC is treated as a legitimate legal entity, which is crucial for protecting your personal assets (maintaining the “corporate veil”).
MINUTES OF THE FIRST MEETING OF THE MEMBERS OF
JK KNOCKOUT LLC
Date: March 4, 2026
Location: [Insert Address or “Virtual/Zoom”]
Present: Joe (40%), Jackie (35%), Gary (25%)
1. Call to Order
The meeting was called to order at [Insert Time]. It was noted that a quorum was present, representing 100% of the membership interest.
2. Adoption of Operating Agreement
The Members reviewed the Operating Agreement outlining the 40/35/25 ownership split.
- Resolution: The Operating Agreement was unanimously adopted as the governing document of the LLC.
3. Management and Banking
- General Partner/Manager: The Members confirmed the management structure as defined in the Articles of Organization.
- Bank Account: The Members authorized the opening of a business checking account. Joe, Jackie, and Gary are authorized signers on the account (or specify if only one/two).
4. Financial Procedures (Hard Costs & Donations)
The Members formally adopted the “Monthly Distribution Worksheet.”
- Resolution: All “Hard Costs” (COGS, shipping, travel, and retail overhead) will be deducted from gross revenue monthly.
- Resolution: 10% of Net Profits will be paid to the Jackie Kallen Foundation prior to any member distributions.
5. Buy-Out and Succession
The Members acknowledged the right of the remaining members to purchase the interest of a deceased member to retain control of the LLC and provide liquidity to heirs.
6. New Business
The Members discussed the initial pipeline for speaking engagements and merchandising clients. [Insert brief note on any specific client currently being onboarded].
7. Adjournment
There being no further business, the meeting was adjourned at [Insert Time].
SIGNATURES:
Joe, Member
Jackie, Member
Gary, Member
What to do with this document:
Keep this signed copy in your “Company Minutes” binder. Whenever you make a major change (like changing the donation %, adding a new product line, or taking out a business loan), you should hold a quick meeting and file a “Minutes” page just like this one.