Annual Meeting
The regular yearly gathering at which shareholders of a Texas corporation elect directors and conduct other business properly brought before the meeting. Required of every Texas for-profit corporation.
An annual meeting of the shareholders is the regular yearly gathering at which shareholders of a Texas corporation elect directors and conduct other business properly brought before the meeting. Required of every Texas for-profit corporation.
Timing and place
Held at the time stated in (or set in accordance with) the corporation's bylaws. § 21.351(a). The corporation determines whether to hold the meeting in person, by remote communication under § 21.3521, or by hybrid means.
Shareholder remedy for failure to hold
Under § 21.351(b), a shareholder who has previously submitted a written request may petition the district court in the county of the corporation's principal executive office to order a meeting if the annual meeting has not been held (or no written consent in lieu has been executed) within any 13-month period.
No automatic dissolution
Failure to hold an annual meeting does not result in winding up or termination. § 21.351(c).
Closely-held corporations frequently dispense with formal annual meetings via § 21.655 close-corporation election or via written consent in lieu of meeting under § 6.202.