Bylaws also usually establish how notice of annual meetings will be given, the order of business that should be followed, and the quorum (minimum number of shareholders present) to hold a vote at meetingsĪt an annual meeting, information is communicated, and various activities take place. Most corporations hold their annual meeting soon after the company’s fiscal year has ended, at a time and location set forth in the corporate bylaws. Alternative names for that meeting include annual shareholder meeting, annual stockholder meeting, and annual general meeting (or AGM, for short). What I’m going to share here is not intended as legal advice and should not be considered as such What Is an Annual Meeting?Īll corporations (corporations that elect for S Corporation tax treatment included) in the United States must hold an annual meeting. To make sure you fully understand the rules that you must follow, I recommend consulting an attorney for guidance. Let’s dig into this topic so that you’ll have a basic understanding of what you might need to consider in keeping your business in good standing with your state. These are just a few of the questions you might be wondering about. What should you know about them? What do they include? Must Limited Liability Companies (LLCs) hold an annual meeting and prepare minutes, too? Because some corporations must hold annual meetings and draft annual meeting minutes for satisfying their business compliance responsibilities, it’s important to know if this requirement applies to your company.
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