Form with which the Directors of a corporation waive the necessity of an annual meeting of directors.
Maine Waiver of Annual Meeting of Board of Directors - Corporate Resolutions
State:
Multi-State
Control #:
US-0019-CR
Format:
Word;
Rich Text
Instant download
Description
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FAQ
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.
Generally, the board of directors is responsible for making major business and policy decisions and the officers are responsible for carrying out the board's policies and for making the day-to-day decisions.
Normally, non-director officers may be invited to attend all or particular meeting of the board, especially the secretary of the corporation for the purpose of keeping minutes of the proceeding. Also, outside counsel of the corporation are frequently invited to attend.
Under what circumstances does the business of the meeting need to be communicated to regulators. Unlike general meetings where member attendance is optional, directors have a duty to be present for board and committee meetings as a part of their duties and responsibilities and to participate in decision making.
The general rule is that all directors are entitled to attend board meetings.
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
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.
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.
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.
The Annual Shareholders Meeting The annual shareholder meeting is where the shareholders of a corporation gather to discuss and vote on important issues facing the company. The annual corporate shareholder meeting is also referred to as a general meeting or a stockholder meeting.
