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Q: Notice for shareholder meetings ( Answered 5 out of 5 stars,   1 Comment )
Question  
Subject: Notice for shareholder meetings
Category: Business and Money
Asked by: m3cpiggy-ga
List Price: $15.00
Posted: 27 Jun 2003 13:06 PDT
Expires: 27 Jul 2003 13:06 PDT
Question ID: 222503
I am part of a small company.  Before every shareholder meeting we
have, we are required to send out a notice of the meeting to keep
everything legal.  I need to know when the notice needs to be sent to
all the shareholders before each annual meeting and special meeting. 
What is the appropriate time range for this:  earliest we can send the
notice and the latest we can send it?  I have looked at Robert's Rules
of Order and couldn't find where he mentions it.  I have also looked
at other websites and couldn't find a consistent time period of when
other organizations send their notices out.  They have ranged from 5
days to 60 days. Is there a law or rule that states that the notice
should be sent in a certain time period or is it completely up to the
company and written in the bylaws?  Thank you!

Request for Question Clarification by thx1138-ga on 27 Jun 2003 13:28 PDT
Hello m3cpiggy and thank you for your question.

The law will be different depending on where you are.  If you could
let us know geographically where you are ie Country/State or Province,
we will be able to give you the most accurate answer.

Best regards

THX1138

Clarification of Question by m3cpiggy-ga on 27 Jun 2003 13:41 PDT
The company is incorporated in New York.
Answer  
Subject: Re: Notice for shareholder meetings
Answered By: thx1138-ga on 27 Jun 2003 14:27 PDT
Rated:5 out of 5 stars
 
Hello m3cpiggy, thank you for your question and subsequent
clarification.

The specific piece of law that refers to the timing notification of
share holder meetings, can be found under the "New York State
Consolidated Laws" "Business Corporation - Index" under article 6
section 605.
(In other words the period of notification is laid down in law by the
New York State Assembly)

Article 6: Shareholders
Sec 605. Notice of meetings of shareholders. 
"Notice of any meeting shall be given not fewer than  ten
nor  more  than  sixty  days  before  the date of the meeting,
provided,
however, that such notice may be given by third  class  mail  not 
fewer
than  twenty-four  nor  more  than  sixty  days  before  the date of
the
meeting, to each shareholder  entitled  to  vote  at  such  meeting."
http://assembly.state.ny.us/leg/?cl=13&a=7

For further information regarding corporation law in New York see:
New York State Consolidated Laws  
Business Corporation - Index 
http://assembly.state.ny.us/leg/?cl=13

The periods of "not less than ten nor more than sixty days" are fairly
consistent throughout the states although as you noted there is some
variation.

Standard template for a companys by laws
"Section 4. Notice. Written notice stating the place, day and hour of
the meeting and, in the case of a special meeting, the purpose or
purposes for which the meeting is called, shall be delivered not less
than ten (10) nor more than sixty (60) days before the meeting"
http://designs-websites.com/by_laws.htm

Thank you for your question, and if you need any clarification of my
answer, do not hesitate to ask.

Very best regards.

THX1138

Search strategy included.
"New York Business Corporation Law"
://www.google.com/search?as_q=&num=10&hl=en&ie=ISO-8859-1&btnG=Google+Search&as_epq=New+York+Business+Corporation+Law+&as_oq=&as_eq=&lr=&as_ft=i&as_filetype=&as_qdr=all&as_occt=any&as_dt=i&as_sitesearch=&safe=off
m3cpiggy-ga rated this answer:5 out of 5 stars and gave an additional tip of: $5.00
Thank you for your help.  This is EXACTLY what we needed!  We also
appreciate your adding the suggested wording for this to be entered in
our corporate minutes, which we needed as well.

Comments  
Subject: Re: Notice for shareholder meetings
From: thx1138-ga on 30 Jun 2003 06:22 PDT
 
Hello again m3cpiggy.

This is just a note to thank you for the excellent rating and generous tip!

Very best regards

THX1138

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