Form with which the secretary of a corporation notifies all necessary parties of the date, time, and place of the first stockholder's meeting.
First Stockholders Meeting With Direct Reports In Illinois
State:
Multi-State
Control #:
US-0016-CR
Format:
Word;
Rich Text
Instant download
Description
Form popularity
FAQ
The first shareholder meeting is an organizational meeting where shareholders ratify and approve the actions of the incorporators. Shareholders also approve shares values, appoint directors and officers if needed, and wrap up other initial tasks.
Directors call general meetings, including the AGM. Members of a corporation cannot call a general meeting or AGM unless the rule book says they can. It is best if all the directors are involved in the decision to call a general meeting and setting the agenda by passing a resolution at a directors' meeting.
Statutory meeting is the first meeting of the shareholders of the company. it must not be held only once in a lifetime of a company . Hence the first general meeting of the company is the statutory meeting.
(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.
Special meetings of the shareholders may be called for any purpose or purposes, at any time, by the Chief Executive Officer; by the Chief Financial Officer; by the Board or any two or more members thereof; or by one or more shareholders holding not less than 10% of the voting power of all shares of the corporation ...
In the case of a private company regardless of the number of members, two members must be present for the quorum to be met for a meeting.
The Business Corporation Act of 1983 permits Illinois cor- porations to be formed for any lawful purpose permitted by this act except bank- ing or insurance.
If the directors do not call a meeting as required to do so, under S304, the members who requested the meeting, or any of them representing more than one half of the total voting rights of all of them, may themselves call a general meeting.
You may vote to: Elect members of the board of directors. Appoint auditors. Accept resolutions. For example, if the board wants to change the number of board members, it has to submit a resolution to a vote of shareholders. Approve the by-laws adopted by the board of directors.
For an introductory stakeholder meeting or kickoff, the purpose is to introduce stakeholders to each other and create hype around the product/project. It is crucial to be clear with who is responsible for what during a kickoff, even if you think everybody already knows.
