16-10a-703. Court-ordered meeting.

269 words·~1 min read·/ut/title-16/chapter-10a/16-10a-703

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Effective 7/1/2024

(1)A court may summarily order a meeting of shareholders to be held:

(a)upon a petition by a shareholder of the corporation entitled to participate in an annual meeting or any director of the corporation, if an annual meeting was not held within 15 months after its last annual meeting, or if there has been no annual meeting, the date of incorporation; or

(b)upon a petition by a person who participated in a call of or demand for a special meeting effective under Subsection 16-10a-702(1) , if:

(i)notice of the special meeting was not given within 60 days after the date of the call or the date the last of the demands necessary to require the calling of the meeting was delivered to the corporation pursuant to Subsection 16-10a-702(1)(b) , as the case may be; or

(ii)the special meeting was not held in accordance with the notice.

(2)The court may fix the time and place of the meeting, state whether or not it is an annual or special meeting, determine the shares entitled to participate in the meeting, specify a record date for determining shareholders entitled to notice of and to vote at the meeting, prescribe the form and content of the meeting notice, fix the quorum required for specific matters to be considered at the meeting, or direct that the votes represented at the meeting constitute a quorum for action on those matters, and enter other orders necessary or appropriate to accomplish the purpose or purposes of holding the meeting.

Amended by Chapter 401 , 2023 General Session