Document background
A Written Resolution In Lieu Of Annual General Meeting is utilized when companies need to obtain shareholder approval for annual matters but wish to avoid the logistics and expense of conducting a physical meeting. This document is particularly useful for companies with few shareholders or those seeking efficient decision-making processes. Under U.S. corporate law, particularly in states like Delaware, such written consents are legally equivalent to votes taken at a formal meeting, provided they receive the required number of shareholder approvals. The resolution must typically be signed by shareholders representing at least the minimum voting power required for the specific actions being approved.
