There’s more than one way for shareholders to take action. The most familiar way is a shareholders' meeting, but other ways of recording shareholders’ votes are growing in popularity.

In particular, the use of signed “consents” by shareholders in the absence of a meeting is quite common nowadays, especially where one or more shareholders live or work a fair distance from the others.

Using a consent can be particularly helpful when:

• a meeting is missed
• a corporation is run by one person
• a corporation is family owned

Important to Know:

• Make sure all shareholders are fully informed of all actions in the absence of a meeting.
• More helpful information about using consent forms can be found in The Corporate Records Handbook.