New York Action by Unanimous Written Consent of the Shareholders of (Name of Company) is a legal process conducted in accordance with the laws of the state of New York. It allows all shareholders of a company to collectively make decisions without holding a formal meeting. This action can only be taken unanimously, meaning that every shareholder must agree and provide written consent to the proposed action. The unanimous written consent serves as a binding agreement and is usually documented through a written resolution or consent form. Some examples of New York Action by Unanimous Written Consent of the Shareholders of (Name of Company) include: 1. Amendment of Articles of Incorporation: Shareholders can use this action to propose and approve changes to the company's articles of incorporation, which act as the company's governing documents. This may include modifications to the company's name, purpose, capital structure, or any other provisions specified in the articles. 2. Election of Directors: Shareholders can use this action to elect or remove directors of the company. This decision is crucial, as the board of directors plays a significant role in the management and oversight of the company's operations. 3. Changes to Corporate Bylaws: Shareholders can propose amendments or modifications to the company's bylaws, which outline the internal rules and procedures for conducting business. This might involve alterations to the quorum for shareholder meetings, voting procedures, or any other provisions set forth in the bylaws. 4. Approval of Major Business Transactions: Shareholders may use this action to provide unanimous consent for significant business transactions, such as mergers, acquisitions, or the sale of major assets. This ensures that all shareholders have a say in crucial decisions that may impact the company's future. 5. Dissolution of the Company: In certain circumstances, all shareholders can agree to dissolve the company through this action. Dissolution involves winding up the company's affairs, paying off debts, and distributing any remaining assets to the shareholders. It is important to note that the specific actions that can be taken through New York Action by Unanimous Written Consent of the Shareholders of (Name of Company) may vary depending on the company's organizational structure, the terms outlined in the articles of incorporation and bylaws, as well as any applicable state and federal laws.
New York Action by Unanimous Written Consent of the Shareholders of (Name of Company)
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Shareholder action by written consent refers to corporate shareholders' right to act by written consent instead of a meeting. This type of consent avoids some of the negative characteristics of shareholder meetings.
Although Executive Boards can't officially act without voting, they can vote without meeting. As long as every member agrees and the decision is memorialized in writing, a decision by unanimous consent is every bit as legal and binding as one which is voted on during a live meeting.
Shareholder Consent means the written consent of the shareholders of Seller holding the requisite number of votes required to approve this Agreement and the transactions contemplated by this Agreement in accordance with Seller's Organizational Documents and Applicable Law.
B. An action taken by shareholders without a shareholders' meeting must be taken by all shareholders and must be evidenced by written consent of all shareholders of the corporation if any of the following applies: 1. The action involves the election of directors or the removal of one or more directors.
A unanimous written consent for the board of directors of a New York corporation to act without a formal board meeting. This Standard Document has integrated notes with important explanations and drafting tips.
Related Definitions Unanimous Written Consent means a written consent executed by at least one representative of each Member.
An Action by Unanimous Written Consent, also known as an Action Without Meeting (or simply, a unanimous written consent), is a document through which the Board of Directors of an organization decides to pass a specific corporate resolution (or resolutions) without having a face-to-face meeting.
Unanimous Written Consent means a written consent executed by at least one representative of each Member.
Shareholder action by written consent refers to corporate shareholders' right to act by written consent instead of a meeting. This type of consent avoids some of the negative characteristics of shareholder meetings.
Written Consent means a signed form with the customer's signature received by the Company through mail, facsimile, or email. A customer may also digitally sign a form that is transmitted to the Company.