SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Biotech / Medical : Paracelsian Inc (PRLN)
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Harold Stone who wrote (2317)4/13/1997 10:17:00 AM
From: John H. Farro   of 4342
 
Harold, I am not a lawyer, but I did take an introductory class in business law a year ago. The American Bar Association published a Revised Model Business Corporation Act in 1984 that is used as a guide by many states, including New York, for enacting laws regulating corporations. The RMBCA is only a boilerplate that states can and do modify. Section 7.02 of the RMBA states:

a) The [name or dscribe] court of the county where a corporation's principal office (or, if none in this state, its registered office) is located may summarily order a meeting to he held:
1) on application of any shareholder of the corporation entitled to participate in an annual meeting if an annual meeting was not held within the earlier of 6 months after the end of the corporation's fiscal year or 15 months after its last annual meeting...

I do not know if New York State has adopted this clause from the RMBCA into its laws. I do know that if they hold a stockholder's meeting, all the stockholder's must be invited to attend.

Robin Messing
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News