Conducting Virtual Board and Annual Meetings
On Friday, April 24th, we discussed how to hold a virtual Annual Meeting as well as the protocols necessary to ensure that decisions made at a virtual monthly Board Meeting are properly recorded. Even if you have already decided to postpone your Annual Meeting to the fall, it’s clear that our world has changed, and it makes sense for all of us to know how to conduct business, including building business, virtually.
Eric Blaha, Partner
Smith Buss & Jacobs LLP
Please note that the recording did not commence until we were into our second question. What you missed was Eric Blaha informing us that right before the COVID-19 crisis erupted, the state passed a law allowing Boards to hold virtual annual meetings. Since then, the governor has signed an order allowing you to do so by a simple Board decision, without having to get shareholder approval or changing the bylaws. Eric expects this to be permitted into the foreseeable future.