Can a resolution replace the annual general meeting? | ScriptaLegal | ScriptaLegal
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Frequently asked questions > Company > Business Corporation > Can a unanimous written resolution replace the annual shareholders' meeting?

Can a unanimous written resolution replace the annual shareholders' meeting?

Yes, generally. A written resolution signed by all shareholders entitled to vote on the matters addressed therein can generally serve as a substitute for a shareholders' meeting, whether held physically or remotely, when the conditions stipulated by applicable law are met.

This procedure allows shareholders to make decisions that would otherwise have been submitted to a meeting, without having to hold a meeting, either physically or remotely.

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It is particularly useful in SMEs with only one shareholder or a limited number of shareholders. When the company has a single shareholder, this allows them to record in writing the decisions within their authority.

However, it is important to distinguish between decisions made by shareholders and those made by the board of directors. Directors' decisions must be made according to their own rules and require separate resolutions from those of shareholders.

Written resolutions adopted in lieu of a meeting should be kept in the company's minutes book along with other required corporate documents.

In summary , a unanimous written resolution of the shareholders—that is, a resolution signed by all shareholders entitled to vote at the time of its adoption—can serve as an annual shareholders' meeting when the requirements of applicable law are met. This procedure allows SMEs, in particular, to simplify their annual formalities without having to hold a meeting, whether in person or remotely.

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