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An annual general meeting (AGM) is a yearly gathering of a company's interested shareholders. At an AGM, the directors of the company present an annual report containing information for shareholders about the company's performance and strategy.
In general, companies require a letter or similar notification from investors having a sufficient number of shares, demanding a special meeting and stating the purpose for that meeting. The company can then set the date for the meeting, typically within a 30 to 90 day time period after receipt of the demand.
Sec. 403. A special meeting of shareholders may be called by the board, or by officers, directors or shareholders as provided in the bylaws.
Special meetings of stockholders or members shall be held at any time deemed necessary or as provided in the by-laws: Provided, however, That at least one (1) week written notice shall be sent to all stockholders or members, unless otherwise provided in the by-laws.
Table of contents #1 ? Annual General Meeting (AGM) #2 ? Extra-Ordinary General Meeting (EGM) #3 ? Class Meetings.
: a meeting held for a special and limited purpose specifically : a corporate meeting held occasionally in addition to the annual meeting to conduct only business described in a notice to the shareholders.
Typically either the president or a majority vote of the board (or both) can call a special meeting. You need to give proper notice to members and, of course, you need a quorum to do business. The procedure should be spelled out in your bylaws.
?Special meetings? are unscheduled meetings called from time to time by the Board for a specific purpose. Special meetings usually address issues that need immediate attention or that need more time and discussion than can be handled in routine Board or annual meetings from opening a new diner to a new pharmacy.
A special meeting allows shareholders to remove the current board of directors and elect a new board. The following is an explanation of the procedures for calling a special meeting of the shareholders.