(a) Meetings of shareholders may be held at any place within or without this state as may be stated in or fixed in accordance with the bylaws. An annual meeting of shareholders shall be held for the election of directors on a date and at a time stated in or fixed in accordance with the bylaws.The benefits of virtual meetings are many. Any action that may be taken at any annual or special meeting of shareholders may be taken without a meeting and without prior notice. Shareholder Meeting Frequency Requirements. In California, S-corporations are required to hold at least one annual meeting of shareholders. An annual meeting of directors shall be held immediately and without notice after and at the place of the annual meeting of shareholders. There is usually no specific state requirements for how to conduct these meetings.