This guidebook focuses on nonprofit corporations, which are the most common organizational form for. The board of directors may fill the vacancy; or. (3).Enter the names of any additional members of the Board of Directors. A form of minutes the board of directors of a corporation may use to authorize the corporation to enter into a loan transaction at a meeting. Corporate meeting minutes are a formal record of your company's important discussions and actions. They can and should be more than a formality. Each credit union's board of directors shall review this loan approval report on a monthly basis. According to the law of North Carolina, business entities registered with the North Carolina Secretary of State are not required to file corporate minutes. I am in the process of doing a director's loan to my own Ltd business, and my solicitor has said I need to provide minutes from a board meeting approving this.