Stockholder Meeting For Private Companies In Fulton
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FAQ
Annual shareholder meetings are necessary but they can be costly, ill-attended and often do not add value other than their vital purpose under corporate law.
California law requires ALL California corporations, even those owned by a single shareholder, to hold an annual meeting of the shareholder(s) for the purpose of electing the board of directors.
Prepare copies of the meeting agenda and any relevant reports (financial statements, proxy statements, etc.) for attendees, either in physical form or through a secure online portal. Determine the voting method (electronic voting platform, paper ballots, etc.) and ensure everyone understands the process.
Scheduling AGMs While not mandatory for private companies, many opt to hold their AGM, as allowed by their Memorandum of Incorporation (MOI). The first AGM must be held within 18 months of the company's incorporation, with subsequent AGMs held annually, ensuring no more than 15 months elapse between meetings.
A shareholders' meeting is a meeting held by the shareholders of a company to discuss the arrangements of the company or to vote in the election of board members.
Not complying with regulations regarding annual shareholder meetings can put your company, and its owners, at personal risk for liability.
Federal and state-level laws, as well as a company's incorporation documents, require public and private corporations—including C-corps—to have boards of directors (BoDs). Companies that are formed as LLCs (limited liability companies) do not have the same requirements, although some still choose to assemble a board.
A General Meeting is simply a meeting of shareholders and 21 days' notice must be given to shareholders, but this can be reduced to 14 days, or increased to 28 days, in certain situations.
