Every state requires its domestic corporations to hold an annual shareholder meeting. In recent years, many, but not all states have authorized corporations to hold virtual meetings where shareholders participate in the meeting remotely.
Now, due to the COVID-19 virus and social distancing mandates which prohibit in-person meetings, several states have suspended the application of provisions within their statutes that have previously disallowed virtual shareholder meetings. The suspension of these provisions will remain in place for the duration of the COVID-19 crisis. Below is a list of several COVID-19 related Executive Orders, Proclamations and Bills authorizing the holding of virtual shareholder meetings that you can link to for details.
- California: Executive Order N-40-20
- Connecticut: Executive Order No. 7I (See Item 11)
- Georgia: Executive Order 89 2020
- Iowa: Executive Order 2020 (See Sec. Sixty Eight)
- Louisiana: Proclamation 37 (See Sec. 5)
- Massachusetts: COVID-19 Order 19
- New Jersey: Assembly Bill 3861
- New York: Executive Order No. 202.8
- North Carolina: Executive Order 125
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For informational purposes only; content does not constitute legal advice.