The Idaho Secretary of State’s office does not require corporate minutes, and a mailer being sent to businesses in the region is using deceptive advertising.
Mailboxes from Idaho Falls to Caldwell have been flooded with a “2013 – Annual Minutes Form” from Corporate Records Service of New York, stating that businesses must keep a permanent record of all meetings of its shareholders and board of directors and that the meetings should be held annually.
Secretary of State spokeswoman Kim Hunter says, “What they are asking for is the minutes of their corporation. We don’t require those minutes to be filed with our department.”
The company is using legal citations to make their product seem more official, Hunter says, even though they declare they are not a “government agency and does not have or contract with any government agency to provide this service.”
Businesses must make a corporate annual report filing with the Secretary of State’s Office, but it does not charge for the service. This service does not meet annual filing requirements with the secretary’s office.
BBB warns businesses to be careful as they prepare their taxes and corporate minutes, and if they want to use a company to format permanent corporate records, that they first check out the company at BBB.org.
“From what we understand, they are trying to help them with their corporate minutes,” Hunter says. Hunter says Idaho is not soliciting businesses to use this service. Corporate Records Service is not registered with the state.
BBB says beware. Corporate Records Service has an “F rating” and is not an accredited business. It charges $125, which is to be mailed to a drop box at a UPS Store on Overland Road in Boise. Completed documents are promised to be returned within four weeks.
A disclaimer states, “You can engage an attorney to prepare them, prepare them yourself, use some other service company or use our service.”
“This is not an official government mailing and businesses are not required to send this private company your corporate information and credit card information,” says Dale Dixon, CEO for Better Business Bureau serving the Snake River Region.