§ 55-7-01. Annual meeting. - North Carolina Statutes

Article7.

Shareholders.

Part 1.  Meetings.

§ 55‑7‑01.  Annualmeeting.

(a)        A corporation shallhold a meeting of shareholders annually at a time stated in or fixed inaccordance with the bylaws.

(b)        Annualshareholders' meetings may be held in or out of this State at the place statedin or fixed in accordance with the bylaws.  If no place is stated in or fixedin accordance with the bylaws, annual meetings shall be held at thecorporation's principal office.

(c)        The failure to holdan annual meeting at the time stated in or fixed in accordance with acorporation's bylaws does not affect the validity of any corporate action. Upon such failure, whether from lack of quorum or otherwise, a substituteannual meeting may be called in accordance with the provisions of G.S. 55‑7‑02and any meeting so called may be designated as the annual meeting.

(d)        Any matter relatingto the affairs of a corporation that is appropriate for shareholder action is aproper subject for action at an annual meeting of shareholders, and unlessrequired by some provision of this Chapter, the matter need not be specificallystated in the notice of meeting. (1901, c. 2, ss. 46, 49, 51;Rev., ss. 1179, 1188, 1190; C.S., ss. 1168, 1169, 1176; G.S., ss. 55‑105,55‑106, 55‑113; 1955, c. 1371, s. 1; 1959, c. 1316, ss. 21, 22;1985 (Reg. Sess., 1986), c. 801, s. 44; 1989, c. 265. s. 1.)