Annual Meetings
Every state has routine requirements for shareholder meetings. Generally, shareholders are required to have (at least) an annual meeting. The main purpose of this meeting
Special Meetings
Special shareholder meetings are not actually special. They are meetings of the shareholders other than the annual meeting, which is required. The Board of Directors will call a special shareholder meeting when it has a significant item of corporate business that requires shareholder approval. Special meetings may be called as designated in the Bylaws or state corporation statute, by the Board of Directors, or by a shareholder who has ownership of a designated percentage of corporation stock. Similar to annual shareholder meetings, notice of special shareholder meetings is also required.
Unlike the annual shareholder meeting, the only subjects that may be considered at a special shareholder meeting are those stated in the notice of the meeting. Most states require shareholder approval of the following items: