The forms constitute the bulk of those necessary for the day to day keeping of the corporate formalities in a California corporation. 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.(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. PLEASE PRINT LEGIBLE-!. Written notice of the annual meeting must be given at least 30 but no more than 60 days before the scheduled meeting. Nevertheless, there is no convenient small business exemption to the annual meeting requirement. The California Corporations Code mandates that S-corporations hold annual meetings of shareholders. If no other place is stated or so fixed, shareholder meetings shall be held at the principal office of the corporation. Corporations are required to hold certain formal meetings each year. Requirement No. 1: Hold an Annual Shareholders Meeting.