Business, Legal & Accounting Glossary
A term commonly used to refer to annual meetings of shareholders or directors of a corporation. Shareholders normally meet to elect directors or to consider major structural changes to the corporation, such as amending the articles of incorporation or merging or dissolving the corporation. Directors meet to consider or ratify important business decisions, such as borrowing money, buying real property or hiring key employees.
Annual meeting. Each public corporation holds an annual meeting of the shareholders, where the executives of the company review recent developments, and issues are presented to the shareholders for a vote. The shareholders also elect members of the board of directors and carry out such other business as may come up as allowed by the corporation by-laws.
Business to come before the annual meeting is presented in a proxy statement mailed to each shareholder of record. Shareholders may vote their shares by proxy.
Similarly, mutual fund companies also hold annual meetings of their shareholders.
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This glossary post was last updated: 4th August, 2021 | 0 Views.