Form with which the Directors of a corporation waive the necessity of an annual meeting of directors.
A New York Waiver of Annual Meeting of Board of Directors — Corporate Resolutions refers to a legal document that allows a corporation in the state of New York to waive its annual meeting of the board of directors. This waiver becomes necessary when a corporation decides that holding an in-person meeting of the board of directors is not practical or necessary for a particular year due to various reasons such as time constraints, changing circumstances, or logistical challenges. The New York Waiver of Annual Meeting of Board of Directors — Corporate Resolutions serves as an official record of the corporation's decision to forgo the annual meeting and instead adopt the resolutions without convening the entire board. It is typically prepared in compliance with the New York Business Corporation Law (BCL) and the corporation's own bylaws. The document outlines the specific details of the waiver, including the corporation's name, its principal business address, and the date on which the waiver is being executed. The resolutions that would have been considered and approved at the annual meeting are listed, ensuring that the board's action remains comprehensive and transparent. The resolutions may include matters such as the approval of financial statements, appointment of auditors, or other routine matters that are typically discussed at annual meetings. In addition to the general New York Waiver of Annual Meeting of Board of Directors — Corporate Resolutions, there may be variations or specific types tailored to different situations. Some possible types of waivers include: 1. Special Waiver of Annual Meeting: This type of waiver may be used when a particular year necessitates the discussion and resolution of significant matters that would typically require a physical meeting. In this case, the waiver acknowledges the need for a special meeting to address these specific items. 2. Emergency Waiver of Annual Meeting: This type of waiver is used in extraordinary circumstances where an unforeseen event or crisis requires immediate action by the board of directors. It allows for essential resolutions to be adopted without waiting for the annual meeting to be convened. 3. Virtual Annual Meeting Waiver: In today's digital age, corporations may opt for a virtual or online annual meeting. This type of waiver allows the board of directors to bypass the traditional in-person meeting and instead conduct the meeting through electronic means. Overall, a New York Waiver of Annual Meeting of Board of Directors — Corporate Resolutions provides flexibility and efficiency to corporations by streamlining the decision-making process. It ensures that the board's actions are properly documented and compliant with applicable laws and regulations.
