For many Boards, the Covid-19 pandemic has thrown a monkey wrench into governance efforts, particularly with holding annual meetings and elections.
In New York, amendments to the Business Corporation Law and the Not-for-Profit Corporation Law temporarily allowing annual meetings via Zoom or other electronic platforms were signed into law. But what about those Boards who still haven’t had their annual meeting or election despite the electronic meeting provisions? It is time to get back on track because failure to do so could leave you exposed to potential litigation brought by individual members or shareholders seeking to compel the Board to hold an annual meeting and/or election. Continue reading “STILL HAVEN’T HELD YOUR ELECTIONS? CONSIDER THE RISKS OF CONTINUED DEFERMENT”
