As noted, the California Corporation Code requires an annual meeting of shareholders to elect members of the Board. PLEASE PRINT LEGIBLE-!.Holding an annual meeting of shareholders, however, is much more than merely fulfilling a legal requirement. Register for the industry's premier meetings and events. Attorney Records Forms. Generally, shareholder meetings are annual meetings. Click here to learn more about the legal concepts of notices. The annual shareholders meeting and the annual board of directors meeting must take place at the time stated in the corporation's bylaws. Sharpen Your Expertise. ABA is the largest voluntary association of lawyers in the world.