South Carolina Unanimous Consent of Stockholders of (Name of Corporation) to Take an Action without a Meeting
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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.
An item of business for the purpose of Civil Code Section 4910's prohibition on actions without a meeting means any action within the authority of the Board, except those actions the board has validly delegated to any other person or persons, managing agent, officer of the association, or committee of the board
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.
The action must be evidenced by one (1) or more written consents describing the action taken, signed by each shareholder entitled to vote on the action in one (1) or more counterparts, indicating each signing shareholder's vote or abstention on the action, and delivered to the corporation for inclusion in the minutes
Quorum requirements. (a) Unless chapters 51-68 of this title or the charter or bylaws provide for a higher or lower quorum, ten percent (10%) of the votes entitled to be cast on a matter must be represented at a meeting of members to constitute a quorum on that matter.
In most states, action without a meeting is permissible only if the directors provide unanimous written consent meaning every director must approve of the action in a signed writing, and no director may abstain or fail to deliver their consent.
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.
