Shareholder approval is typically required unless the directors have been pre-authorized to issue shares through the company's articles of association or a prior resolution.
A shareholders' agreement is an agreement entered into between all or some of the shareholders in a company. It regulates the relationship between the shareholders, the management of the company, ownership of the shares and the protection of the shareholders. They also govern the way in which the company is run.
Taking action by written consent in place of a meeting is a means shareholders can use to raise important matters outside the normal annual meeting cycle like the election of a new director.
Generally, a shareholder may not be involuntarily removed unless there is an agreement, such as a shareholders agreement, that sets out a process for doing so.
Although the directors manage the day to day running of a company, the shareholders are the owners of the company. In order to give the shareholders more control over certain decisions, and to also ensure that minority shareholders are protected, a mechanism called shareholder consents are often included.
Investor consents are contractual rights that require specific investor approval for certain actions. These rights typically apply to high-impact decisions that could materially affect the company's valuation, governance, or capital structure.
A word count of 400 words will result in around four-fifths of a page single spaced and and one and three-fifths of a page double spaced. Although it can vary, with a conventional page setup—Times New Roman or Arial 12 point font and default margins—400 words should be the same across most word processing software.
A sample certification of word count that counsel practicing in the New York Supreme Court or New York County Court must attach to affidavits, affirmations, and memoranda of law, which are generally limited to 7,000 words for documents in chief and 4,200 words for reply documents.
22 CRR-NY 202.8-CRR (1) affidavits, affirmations, briefs and memoranda of law in chief shall be limited to 7,000 words each; (2) reply affidavits, affirmations, and memoranda shall be no more than 4,200 words and shall not contain any arguments that do not respond or relate to those made in the memoranda in chief.
Rule 202.70. 11-d - Limitations on Depositions (a) Unless otherwise stipulated to by the parties or ordered by the court: (1) the number of depositions taken by plaintiffs, or by defendants, or by third-party defendants, shall be limited to 10; and (2) depositions shall be limited to 7 hours per deponent.