Form with which the stockholders of a corporation waive the necessity of a first meeting of stockholders.
In Kansas, a Waiver of Annual Meeting of Stockholders is a type of corporate resolution that allows a corporation to forgo holding the regular annual meeting of its stockholders. This waiver is typically used when all the stockholders of a corporation agree to waive their right to hold an annual meeting and instead opt for the corporate resolutions to be passed without convening the meeting. The Waiver of Annual Meeting of Stockholders provides flexibility to corporations, especially when circumstances make it impractical or unnecessary to hold an in-person meeting. It helps streamline decision-making processes within the corporation without compromising the rights and interests of the stockholders. There are different types of Waiver of Annual Meeting of Stockholders that can be adopted depending on the specific requirements and preferences of the corporation. Some of these types include: 1. Unanimous written consent: This type of waiver is executed when all stockholders of the corporation unanimously agree to waive the annual meeting. Each stockholder signs a written consent document indicating their agreement. This method ensures that every stockholder is aware of and in agreement with the decision. 2. Proxy voting: In this type of waiver, stockholders who are unable to attend or do not wish to attend the annual meeting can appoint a proxy to vote on their behalf. The proxy attends the meeting and casts votes according to the stockholder's instructions. This allows the stockholder's voice to be heard and their voting power to be exercised without the need to personally attend the meeting. 3. Electronic consent: With advancements in technology, some corporations may choose to utilize electronic means for stockholders to provide their consent to waive the annual meeting. This can be done through email, electronic signatures, or dedicated platforms designed for corporate governance. Electronic consent provides efficiency and convenience while maintaining a record of stockholder agreement. 4. Resolution by board of directors: In certain cases, the board of directors may pass a resolution to waive the annual meeting if they deem it in the best interest of the corporation. This type of waiver typically requires careful consideration by the board and documentation of the rationale behind the decision. These different types of waivers allow corporations to adapt their approach based on their unique circumstances and the preferences of the stockholders. It is important to note that while the annual meeting may be waived, corporations must still comply with other legal requirements, including filing annual reports and maintaining accurate records.
