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Prerequisite Annual Meeting of the Shareholders of a Corporation

 
 
gollum
 
Reply Sat 17 Apr, 2021 05:45 am
I live in and am a shareholder in a co-op in New York City.

Each year the co-op corporation:

1) Sends us, the shareholders, its Audited Financial Statements;

2) Holds an Annual Meeting that the shareholders are invited to attend.

Is the co-op corporation required to distribute its Audited Financial Statements prior to holding its Annual Shareholder Meeting so that the shareholders have an opportunity to review the AFS prior to attending the ASM?
 
izzythepush
 
  3  
Reply Sat 17 Apr, 2021 05:51 am
@gollum,
You know that A2K does not offer legal advice?

I did a quick google of a question and the response I got was that it should be included in the annual report issued prior to the meeting, but that was for a corporation, not a cooperative, in the UK and I’m not a lawyer.

For a proper answer, as opposed to guesswork, you need to speak to a lawyer.
gollum
 
  1  
Reply Sat 17 Apr, 2021 07:06 am
@izzythepush,
izzythepush-

OK. Thanks.
0 Replies
 
PUNKEY
 
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Reply Sat 17 Apr, 2021 01:51 pm
@gollum,
Usual steps are ....

Members must be notified within X days of the meeting. An agenda of the meeting and a financial report should be included in the notice. Any items needing a vote of the members must also be stated on the agenda



0 Replies
 
 

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