SHAREHOLDERS' MEETINGS |
| In general,
states require that the shareholders meet at least annually as provided for in the
corporation's bylaws. Failing to hold an annual meeting can affect the validity of the
corporate shield. Special meetings of the shareholders can generally be called by the
board of directors; the persons authorized in the bylaws or articles; if certain
designated levels of shareholders demand a meeting; and in certain situations, when
ordered by an appropriate court, in which the Corporation's registered agent is. The
shareholders of a corporation can generally sign a consent resolution instead of any
action which could be taken in a shareholder's meeting. Notice of a shareholders'
meeting must generally be given at least 10 and no more than 60 days before the meeting.
Notice can be waived unless a shareholder objects at the beginning of a meeting.
Unless otherwise provided in the articles, a quorum exists if a majority of the shares
entitled to vote are present at a meeting. |
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