If you own any type of corporation, there are three roles that need to be filled: shareholders, board of directors, and officers. California corporate law requires an annual meeting of the shareholders, but there is no requirement for an annual directors meeting.In California, shareholders have the right to inspect a corporation's bylaws and articles of incorporation, also known as the corporate charter. Calling a special shareholder meeting does require certain regulations to be followed, and failing to do so can put members at risk of liability. Regular meetings of the Board of Directors shall be held at any place within the. (b) 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. While the shareholders do not manage the corporation themselves, they do elect directors to the board. Steven Oakland , Chairman of the Board , (Term Expires 2025). Learn about the charitable foundation funding opportunities through Bank of America and find out more about the company's funding priorities. Are you a director of a limited company and unsure what decisions you can make?