Form with which the stockholders of a corporation waive the necessity of a first meeting of stockholders.
Annual General Meeting Resolution Format In Hennepin
State:
Multi-State
County:
Hennepin
Control #:
US-0022-CR
Format:
Word;
Rich Text
Instant download
Description
Form popularity
FAQ
Passing a resolution Voting at general meetings is normally taken by a show of hands or a poll. If the vote is taken as a show of hands, the percentage is worked out as one vote per shareholder.
An ordinary resolution is defined in this Act (section 191) and means a resolution passed by a simple majority of the votes cast by the members, entitled to vote, to be voted in person or by proxy at a general meeting of the company.
The main text of the resolution should describe the actions that the proposer is requesting the AGM take. For Ordinary resolution, this will normally be a list of actions which the AGM would like the IMA to undertake. These actions are best presented in brief bullet point form, avoiding repetition.
An AGM may be waived in some jurisdictions, only if a written resolution is passed. The resolution must be unanimously approved and signed by all members. Shareholders must be notified, and the financial statements need to be accepted.
(1) Anything that may be done by a resolution of a company in general meeting may be done, without a meeting and without any previous notice being required, by a written resolution of the members of the company.
Many body corporate decisions have to be made at a general meeting. A decision is made at a general meeting if a motion is included on the agenda, and owners vote to pass the motion. This is called a resolution.
Resolutions are typically proposed and passed during formal meetings such as the Annual General Meeting (AGM). However, companies also have the option to pass resolutions in writing. Written resolutions are typically used when directors and shareholders are unable to meet in person for any reason.
A private company need not hold AGMs if all the members pass a resolution to dispense with the holding of annual general meetings. Companies may pass written resolutions for matters that would have been tabled at an AGM and may include the resolutions during Annual Return filings.
Ordinary resolutions are used for routine business decisions like paying dividends and require more than 50% of votes in favour. Special resolutions are used for more complex business matters like changing articles of association and require at least 75% of votes in favour.
