On Demand Audio

Corporate Record Books? I Think They’re at My Lawyer’s Office (Update)

(383 reviews)

Produced on November 21, 2017

Taught by
$ 89 Tax, Business, Corporate, & Securities, and Law Practice Management In Stock
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Course Information

Time 1h 1m
Difficulty Intermediate

Course Description

The purpose of a corporation is to shield the owner(s) personal assets from liabilities that may arise when the business is facing liability from a creditor or a plaintiff’s lawsuit. However, this protection could be lost if you fail to maintain accurate record books. In this program, attorney and CPA Roman Basi, presents the fundamental laws of corporate record keeping and makes them memorable by sharing cautionary tales of business owners who did not keep proper records and personally suffered the consequences.

Mr. Basi explains in detail how proper records should be created and maintained. He also provides sample forms and explanations of how corporate entities should use them, as well as a comprehensive checklist every attorney should use when assisting in the formation of a company.

Learning Objectives:

  1. Recognize the importance of corporate records
  2. Identify what corporate record books actually are
  3. Determine when to hold meetings and make resolutions, as well as how shareholders are able to vote at a corporate meeting
  4. Comprehend the importance of formalities, maintain order, and understand why it is necessary to do so
  5. Gain familiarity with different types of entities

Credit Information

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Roman Basi

The Center for Financial, Legal & Tax Planning, Inc.

Roman Basi, raised in Southern Illinois, began his working career at a young age umpiring little league base-ball games. He spent his teenage and college years working for his father’s varied business interests. These experiences helped develop his future interest in helping small business owners fulfill their business and succession plans.

He graduated from Millikin University obtaining a Bachelor’s of Science Degree with a minor in Psychology. After receiving his degree, he continued his studies earning an MBA from Southern Illinois University with an emphasis in Accounting. He continued on to law school receiving his JD (law degree) from Southern Illinois University. He is a licensed attorney in Illinois, Missouri, Florida and Arizona. Roman is also admitted to the United States District Court for the Southern District of Illinois, the United States Court of Appeals for the 7th Circuit, and admitted to practice in the United States Supreme Court.

Roman is also a licensed Certified Public Accountant (CPA). Roman is also a licensed Managing Real Estate Broker in Illinois with Heartland Realty & Rentals, Inc., a licensed Real Estate Sales Associate in Florida, a licensed Title Insurance Agent with ATG Fund, Inc. and a licensed Private Pilot with an Instrument Rating.

Over the past several years, Roman has worked on many business transactions and has lectured to various regional and national audiences throughout the country, including extensive work in the continuing education field for Attorneys and CPA’s as well as providing the education necessary for the Voluntary Tax Return Preparer Registry with the IRS. From these venues he has personally met and worked with business owners through-out the United States. He is President of The Center for Financial, Legal & Tax Planning, Inc. (DBA Basi, Basi & Associates) and is in high demand by business owners for his expertise in financial, legal and tax matters.

Roman has been published in the following publications: The Illinois State Bar Association Section on Federal Taxation, Productivity, Agency Sales, Industrial Distribution, Supply House Times, Distributor Link and the I.D.A. Management Journal.

Roman enjoys working with his father and with their national clientele. He is responsible for many of the legal contracts produced by The Center for Financial, Legal & Tax Planning, Inc. His areas of expertise include mergers and acquisitions, contracts, real estate law, tax and estate planning.

Roman is very active in his local community and is a member of numerous associations, and Boards of Directors and has served on various committees. He currently serves on the International Business Brokers Association Education Committee. He participates in the Illinois Department of Transportation Adopt-A-Highway Program. Roman is also a current member of the Arizona, Florida, Illinois and Missouri Bar Associations, the American Institute of CPA’s (AICPA) as well as a past member of the National, Illinois, Florida, Sarasota and Egyptian Boards of Realtors. He has previously served as a member on the Illinois State Bar Association’s Federal Taxation Section Council Committee, Director for the Illinois Association of Realtors, Officer and two term President for the Egyptian Board of Realtors, Director for the Marion, Illinois Chamber of Commerce, and volunteer for the Women’s Center of Carbondale, Illinois.

Roman and Brandi, his wife of 20 years, have two children: Marissa (18) and Alexis (16). They reside in Marion, Illinois. He enjoys spending time with his wife, attending his daughters’ various activities, playing golf, flying a 1982 Piper Saratoga and is an avid St. Louis Cardinals’ and Tennessee Titans fan.


Carol M.


Joseph G.

The lecturer references a series of sample documents he said would be in the course materials. They are not provided.

Ellen M.

Great lecture. I'm an experienced business attorney and it was still very good to hear this information and make sure I am not missing anything. Picked up a few good pointers too. Thanks!

Bonnie M.

Presenter is great. An important topic and a well organized, engaging presentation. So glad I listened to it. I have encountered clients that made almost every mistake mentioned.

Sean S.

Great course and presenter.

Thomas B.

Very good presenter.

Anthony B.


Richard S.

Basi the Younger solid as usual


Good instructor

Aimee C.

This was a great presentation. One of the best speakers I have listened to so far.

Heather N.

This speaker may be my favorite of all time (I have been practicing for 15 years, so I've heard my share.) I want to find and listen to all of the classes he narrates. Thank you!!

Per J.

Very helpful basics for an in house counsel!

Anne P.


Keith P.

excellent presentation

Stephen O.

Clear. Concise. Good place. Full of good info.

William O.

Basi strikes again.

lance f.

very very very thorough. Will listen to it a second time

Patrick M.

Very good. Its nice that the instructor offered to provide additional information.

Laura G.

Excellent presentation! Will find presenter's additional topics and watch. He puts corporate business procedures in an easy and effective learning approach. I can easily recall his main points.

Andrea R.

Very knowledgeable speaker who imparted very valuable information.

Ravi S.

Very good.

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