Form with which the stockholders of a corporation waive the necessity of a first meeting of stockholders.
Annual General Meeting Resolution Format In Fulton
State:
Multi-State
County:
Fulton
Control #:
US-0022-CR
Format:
Word;
Rich Text
Instant download
Description
Form popularity
FAQ
A private company need not hold AGMs if all the members pass a resolution to dispense with the holding of annual general meetings. Companies may pass written resolutions for matters that would have been tabled at an AGM and may include the resolutions during Annual Return filings.
(1) Anything that may be done by a resolution of a company in general meeting may be done, without a meeting and without any previous notice being required, by a written resolution of the members of the company.
Resolutions are typically proposed and passed during formal meetings such as the Annual General Meeting (AGM). However, companies also have the option to pass resolutions in writing. Written resolutions are typically used when directors and shareholders are unable to meet in person for any reason.
Passing a resolution Voting at general meetings is normally taken by a show of hands or a poll. If the vote is taken as a show of hands, the percentage is worked out as one vote per shareholder.
An ordinary resolution is defined in this Act (section 191) and means a resolution passed by a simple majority of the votes cast by the members, entitled to vote, to be voted in person or by proxy at a general meeting of the company.
Many body corporate decisions have to be made at a general meeting. A decision is made at a general meeting if a motion is included on the agenda, and owners vote to pass the motion. This is called a resolution.
An AGM may be waived in some jurisdictions, only if a written resolution is passed. The resolution must be unanimously approved and signed by all members. Shareholders must be notified, and the financial statements need to be accepted.
An ordinary resolution is the most common resolution at a general meeting and serves as the backbone for decisions in a scheme. An ordinary resolution is carried by a majority vote – if there are more yes votes than there are no votes, then the motion is carried.
The body of a resolution is written as a long sentence, and starts with the name of the committee, followed by a comma. The remainder of the body of a resolution is divided into two parts: preambulatory clauses and operative clauses.
A simple resolution is considered by only one chamber and is used for procedural matters and rules. For example, during the 100th Congress, the House of Representatives amended its rules to allow members to refer to the Senate as "the Senate" instead of as "the other body".
