Tennessee Reduction in Authorized Number of Directors

State:
Multi-State
Control #:
US-CC-14-170D
Format:
Word; 
Rich Text
Instant download

Description

This is a Reduction in Authorized Number of Directors form, to be used across the United States. It is used when either the Shareholders, or the Board of Directors, feels that the number of authorized directors should be reduced by a certain amount.
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FAQ

At a minimum, removing a board member normally requires the vote of all HOA members. To obtain a valid vote, you must meet all relevant procedures required under your state's laws and in your development's governing documents, including prior notice, special meeting, quorum, and proxy voting requirements.

The action must be evidenced by one (1) or more written consents describing the action taken, signed by each director in one (1) or more counterparts, indicating each signing director's vote or abstention on the action, and shall be included in the minutes or filed with the corporate records reflecting the action taken ...

Issuance of Registration ? Renewal ? Withdrawal of Registration. The secretary of state shall examine each application for conformity with the requirements of this part and all relevant rules and regulations. A renewal of registration shall be made in the same manner as the initial registration.

Action Without Meeting. Action required or permitted by Chapters 11 27 of this title to be taken at a shareholders' meeting may be taken without a meeting.

The Tennessee Business Corporation Act defines Corporation or Domestic Corporation as a corporation incorporated for profit and not a foreign corporation under the rules of the state of Tennessee. One or more persons may act as the incorporator or incorporators of a corporation.

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.

(a) Except to the extent that the charter or bylaws require that action by the board of directors be taken at a meeting, action required or permitted by chapters 11-27 of this title to be taken by the board of directors may be taken without a meeting if each director signs a consent describing the action to be taken ...

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Tennessee Reduction in Authorized Number of Directors