Form with which the Directors of a corporation waive the necessity of an annual meeting of directors.
Colorado Waiver of Annual Meeting of Board of Directors - Corporate Resolutions
State:
Multi-State
Control #:
US-0019-CR
Format:
Word;
Rich Text
Instant download
Description
Form popularity
FAQ
There are two types of general meetings: Annual General Meetings and Extraordinary General Meetings. There is no requirement for a private company to hold an AGM, though some companies' articles, drafted when there was a statutory requirement to hold an AGM, will still provide for one to be held.
Who Can File? Any shareholder or group of shareholders own- ing $2,000 or more of a company's stock for a minimum of a year can introduce a proposal.
What happens if the corporation does not hold an annual shareholder meeting or written consent action? If a corporation fails to hold an annual meeting, one consequence is that the shareholders may seek a court order to hold a meeting and elect directors.
A resolution may be proposed as a written one by the directors or by the members. The company must send the proposed resolution to every eligible member either in hard copy form, in electronic form or by means of a website. The requirements as to notice and so on, are the same as for a physical meeting.
The annual shareholder and director meetings are typically held after the end of the corporation's fiscal year, with more details such as time and location dictated by the corporation's bylaws. Often, the shareholders meeting and directors meeting are held back-to-back.
A resolution can be made by a corporation's board of directors, shareholders on behalf of a corporation, a non-profit board of directors, or a government entity. The length of the resolution isn't important. It only needs to be as long as what you need to say.
(1) Unless a greater or lesser number is required by the bylaws, a quorum of a board of directors consists of a majority of the number of directors in office immediately before the meeting begins.
In the event that you are forming a nonprofit organization, bylaws may be required by the IRS to obtain your organization's tax-exempt status. In the case of a corporation, however, bylaws are not a required step by the state of Colorado. Nonetheless, bylaws can be a very helpful tool for your business.
Shareholder meetings are a regulatory requirement which means most public and private companies must hold them. Notification of the meeting's date and time is often accompanied by the meeting's agenda.
Meeting Requirements for Corporations. State laws and a corporation's bylaws will dictate specific meeting requirements for corporations. In general, however, most corporations are required to have at least one shareholders' meeting per year. Corporations are also required to prepare and retain minutes of these meeting
