There’s more than one way for shareholders to take action. The most familiar way is a shareholders' meeting, but other ways of recording shareholders’ votes are growing in popularity.
In particular, the use of signed “consents” by shareholders in the absence of a meeting is quite common nowadays, especially where one or more shareholders live or work a fair distance from the others.
Using a consent can be particularly helpful when:
a meeting is missed
a corporation is run by one person
a corporation is family owned
Important to Know:
Make sure all shareholders are fully informed of all actions in the absence of a meeting.