Maine Call of Special Stockholders' Meeting By President of Corporation
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How to fill out Call Of Special Stockholders' Meeting By President Of Corporation?
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FAQ
A special shareholder meeting is sometimes called to handle issues that occur in between annual meetings, and often have certain requirements for calling and holding the meeting. Annual shareholder meetings have become something that is expected from investors.
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
The term shareholders refers to the people directly involved in the corporation who are participating in the company's gains or losses. The special meeting aims to enable the shareholders to know the company's affairs and vote on the management's recommendations in the proposed resolution.
Legal Definition of special meeting : a meeting held for a special and limited purpose specifically : a corporate meeting held occasionally in addition to the annual meeting to conduct only business described in a notice to the shareholders.
The right to requisition a meeting is a fundamental right (a) The right of dissident shareholders to requisition a meeting of shareholders is a fundamental right of shareholders. It is a substantive right, and is not lightly to be interfered with".
Who can call the meeting? An AGM can be called by two or more members who own at least 10% of the company's share capital.
Delaware code provides that in general, only the BoD can call a special meeting: (d) Special meetings of the stockholders may be called by the board of directors or by such person or persons as may be authorized by the certificate of incorporation or by the bylaws.
The corporation can allow others to call a special meeting, such as the BoD Chair, CEO, or yes, shareholders.
Typically either the president or a majority vote of the board (or both) can call a special meeting. You need to give proper notice to members and, of course, you need a quorum to do business. The procedure should be spelled out in your bylaws.
Under section 61 of the Companies Act 71 of 2008 (Companies Act), only the board of a company, or any other person specified in the company's Memorandum of Incorporation (MOI) or rules, has the power to call a shareholders' meeting.
