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Shareholders’ Meetings. Every state requires a corporation to have an annual (or regular) shareholders’ meeting. This meeting is necessary to elect the Board of Directors and to conduct other regular business (annual reports). Generally, the bylaws specify the timing and location of the annual meetings.
A board of directors is a group of people elected to represent stockholders and to assume responsibility for the overall direction and management of the organization. The law varies from state to state as to how often a board of directors meeting should be held; however, most are held at least once a year.
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