C corp rules

[davidD300]

What is the name of your state (only U.S. law)? Texas

I know in a C corp. you are supposed to have annual shareholders meetings and BOD meetings as needed, but in our small company there are now only 3 of us owning shares and we all serve on the BOD. Can we just elect to not follow the above formalities since we all 3 continuously communicate and run the business together? the shareholders meetings are basically just to review the financials and elect the BOD, and we review the financial continuously and have agreed to keep the BOD as the same with us 3, and we have meeting minutes agreeing to this.

we can still have emergency BOD meetings for major decisions.....

David

 

[seniorjudge]

Did your lawyer tell you that there was a provision in your state's corporate law to allow such a thing?

If so, please cite the statute.

 

[davidD300]

Did your lawyer tell you that there was a provision in your state's corporate law to allow such a thing?

If so, please cite the statute.

no - no atty. involved in this matter at this point.....