Special Meeting Of Shareholders Template In San Diego
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(a) Meetings of shareholders may be held at any place within or without this state as may be stated in or fixed in ance with the bylaws. If no other place is stated or so fixed, shareholder meetings shall be held at the principal office of the corporation.
There are three types of shareholders' meetings: an ordinary meeting, an extraordinary meeting and a special meeting.
For example, a company may call a special meeting to discuss a major decision, such as a merger or acquisition. A school board may call a special meeting to address a specific issue, such as a budget shortfall.
In general, companies require a letter or similar notification from investors having a sufficient number of shares, demanding a special meeting and stating the purpose for that meeting. The company can then set the date for the meeting, typically within a 30 to 90 day time period after receipt of the demand.
Cal. Corp. Code § 181. A "sale-of-assets reorganization" is defined as the acquisition of all or substantially all of the assets of a domestic corporation, foreign corporation or other business entity in exchange in whole or in part for equity securities or debt securities.
A cause of action with respect to an obligation to return a distribution pursuant to this section shall be extinguished unless the action is brought within four years after the date the distribution is made.
(a) Whenever shareholders are required or permitted to take any action at a meeting a written notice of the meeting shall be given not less than 10 (or, if sent by third-class mail, 30) nor more than 60 days before the date of the meeting to each shareholder entitled to vote thereat.
Section 603 of the California Corporations Code provides generally for shareholder action by written consent, unless otherwise prohibited in the articles of incorporation.
