What is Section 7 107 104 of the Colorado Revised Statutes?

Section 7-107-104 - Action without meeting (1) Unless the articles of incorporation require that such action be taken at a shareholders' meeting, any action required or permitted by articles 101 to 117 of this title to be taken at a shareholders' meeting may be taken without a meeting if: (a) All of the shareholders ...

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Action by Unanimous Consent of Shareholders in Lieu of Meeting -...

Colorado Action by Unanimous Consent of Shareholders in Lieu of Meeting - Amending Bylaws

Q: What is consent resolution in lieu of meeting?

A Directors&#039; Consent in Lieu of Meeting is a written consent for a corporation&#039;s specific action without having to arrange a board meeting. If they have previously agreed on passing a particular resolution, then using a written consent is a simple shortcut serving this purpose.

Category:

Consents and Permissions - Shareholders

State:

Multi-State

Control #:

US-1061BG

Format:

Instant download

Description

A Shareholders' Consent to Action without Meeting, or a consent resolution, is a written statement that describes and validates a course of action taken by the shareholders of a particular corporation without a meeting having to take place between the shareholders. The Revised Model Business Corporation Act provides that acts to be taken at a shareholders' meeting or a director's meeting may be taken without a meeting if the action is taken by all the shareholders entitled to vote on the action. The action must be evidenced by one or more written consents bearing the date of signature and describing the action taken, signed by all the shareholders entitled to vote on the action, and delivered to the corporation for inclusion in the minutes or filing with the corporate records.

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FAQ

California. Under both Acts, if a meeting of the body lacks a quorum, it does not constitute a meeting. Cal. Gov't Code §§ 11125.5(a)(Bagley Keene Act), 54952.2 (Brown Act).

A Directors' Consent in Lieu of Meeting is a written consent for a corporation's specific action without having to arrange a board meeting. If they have previously agreed on passing a particular resolution, then using a written consent is a simple shortcut serving this purpose.

Section 7-107-104 - Action without meeting (1) Unless the articles of incorporation require that such action be taken at a shareholders' meeting, any action required or permitted by articles 101 to 117 of this title to be taken at a shareholders' meeting may be taken without a meeting if: (a) All of the shareholders ...

Therefore, in both the House of Representatives and the Senate, a quorum is a simple majority of their respective members (currently 218 in the House and 51 in the Senate).

Establishing a Quorum A quorum refers to the majority of voting board members in an organization. For example, if there are 100 board members, then 51 of them (or 51%) constitute a quorum.

Unless otherwise provided by statute or the bylaws, a quorum equals 25 percent of the votes entitled to be cast on the matter by the voting group.

EXECUTIVE SESSION: Requires announcement of topic for discussion, citation to authorizing law, identification of particular matter to be discussed, and a two-thirds vote of all members. In general, discussions held in an executive session must be electronically recorded, but there are a few specific exceptions.

Examples: EX 1 A public body has seven (7) members, therefore a quorum is four (4) members. If the same seven- member public body has two (2) vacancies, then there are only five (5) members serving on the public body. By default, a quorum is still measured as four (4) members.