Special Meeting of the Shareholders
Special Meeting of the Shareholders
- A Special Meeting of the Shareholders is
meeting of your shareholders convened to vote on a special item or purpose
that requires immediate attention. The Board of Directors may call a Special
Meeting of the Shareholders. Also, one or more Shareholders who collectively own
at least ten percent of the issued and outstanding shares may make a written
demand that the Board of Directors call a Special Meeting of the Shareholders.
Your corporation may hold any number of special meetings of your shareholders to
conduct corporate business.
Often the Chairman of the Board or the President serves as the Chairman of the shareholders' meeting and the Corporate Secretary serves as the Secretary of the shareholders' meeting. The shareholders may elect anyone of their choosing to serve as Chairman or Secretary of the shareholders' meeting.
At a Special Meeting, your Shareholders may conduct any other business of which the shareholders had received notice for the special meeting. A shareholder who owns shares of voting stock has the right to vote in the board of directors' elections and in other corporate decisions made at the Special Meeting, in proportion to the shareholder's percentage of the shares of voting stock of the corporation.
The Corporate Secretary must either give proper legal Notice of the date, time and place of the meeting or obtain a written Waiver of Notice signed and dated by each shareholder who did not receive proper legal Notice. The Waiver of Notice may be signed and dated by the shareholder either before or after the meeting. The attendance by the shareholder at the meeting effectively waives the lack of sufficient Notice of the Meeting. The Secretary of the shareholders' meeting is responsible for taking adequate Corporate Minutes of the meeting for inclusion in the Corporate Minute Book together with the Notice of the Meeting, Waiver of Notice, if any, proxies, if any and any other documents required to be included by the Corporate Minutes of that meeting.
Disclaimer: The foregoing is intended to provide general information and may not be suitable in specific instances. The glossary information is not intended to be exhaustive, but rather to illustrate typical considerations. The material is provided with the understanding that it is not legal, accounting, tax or any other professional advice.
Copyright © 2003-2010 LawVantage.com, LLC. All rights reserved.
Important LawVantage.com, LLC and its website, CorporateBoardMinutes.com, do not render any legal, accounting or other consulting advice.
For legal advice, you should always consult with a qualified attorney-at-law.
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Often the Chairman of the Board or the President serves as the Chairman of the shareholders' meeting and the Corporate Secretary serves as the Secretary of the shareholders' meeting. The shareholders may elect anyone of their choosing to serve as Chairman or Secretary of the shareholders' meeting.
At a Special Meeting, your Shareholders may conduct any other business of which the shareholders had received notice for the special meeting. A shareholder who owns shares of voting stock has the right to vote in the board of directors' elections and in other corporate decisions made at the Special Meeting, in proportion to the shareholder's percentage of the shares of voting stock of the corporation.
The Corporate Secretary must either give proper legal Notice of the date, time and place of the meeting or obtain a written Waiver of Notice signed and dated by each shareholder who did not receive proper legal Notice. The Waiver of Notice may be signed and dated by the shareholder either before or after the meeting. The attendance by the shareholder at the meeting effectively waives the lack of sufficient Notice of the Meeting. The Secretary of the shareholders' meeting is responsible for taking adequate Corporate Minutes of the meeting for inclusion in the Corporate Minute Book together with the Notice of the Meeting, Waiver of Notice, if any, proxies, if any and any other documents required to be included by the Corporate Minutes of that meeting.
Disclaimer: The foregoing is intended to provide general information and may not be suitable in specific instances. The glossary information is not intended to be exhaustive, but rather to illustrate typical considerations. The material is provided with the understanding that it is not legal, accounting, tax or any other professional advice.
Copyright © 2003-2010 LawVantage.com, LLC. All rights reserved.
Important LawVantage.com, LLC and its website, CorporateBoardMinutes.com, do not render any legal, accounting or other consulting advice.
For legal advice, you should always consult with a qualified attorney-at-law.
Website development by
Vine Design.