Every state has slightly different requirements for corporations. State laws and a corporation’s bylaws will dictate specific meeting requirements for corporations. In general, most corporations are required to have at least one shareholders’ meeting per fiscal year.
Is It Mandatory in The State of Delaware?
Delaware law requires every corporation to hold an annual shareholder meeting at least once every 13 months. Generally, the date of the annual meetings of a Delaware C-corp is contained in the bylaws of the corporation. A meeting must be held, regardless of the number of shareholders in the corporation. Considering you have successfully incorporated your business; to determine bylaws of the corporation, Delaware law requires that every corporation must hold an initial shareholder meeting. The main business of the initial meeting is to elect a Board of Directors and approve the bylaws. After the initial shareholder meeting, an annual shareholder meeting is typically scheduled just after the end of the fiscal year. This allows for the previous year’s financial performance to be fully assessed and discussed. The timing also allows for any newly elected officer and director information to be collected and made available for the Delaware annual report filing, which must be submitted by the March 1 deadline.
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