Public Companies in The United States
Every state requires public companies incorporated within it to hold an annual general meeting of shareholders to elect the Board of Directors and transact other business that requires shareholder approval. Notice of the annual general meeting must be in writing and is subject to a minimum notice period that varies by state. In 2007, the Securities and Exchange Commission voted to require all public companies to make their annual meeting materials available online. The final rules required compliance by large accelerated filers beginning on January 1, 2008, and by all other filers beginning on January 1, 2009. The "e-proxy" rules allow two methods for companies to deliver their proxy materials, the "notice only" option or the "full set" option. Under the notice only option, the company must post all of its proxy materials on a website, and send shareholders a notice that the materials are available online. This notice must be mailed at least 40 calendar days before the shareholder meeting.
Read more about this topic: Annual General Meeting
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