The most essential element to ensure that a meeting complies with legal requirements is proper notice to all participants. If it is a directors meeting, all directors must be notified. If it’s a shareholders meeting, notice must be given to all shareholders. The bylaws of a corporation usually set out the specific requirements for notice.
The notice should clearly state the date, time, and place of the meeting and should also state the purpose of the meeting. If the meeting is special, the notice should state the type of business that will be conducted at the meeting. The typical notice is in writing and mailed to the shareholders or directors. However, notice can be done in other ways if the bylaws permit. The vital issue is being able to prove that notice was given if there is ever a dispute. That’s why a written notice is always recommended.
The following requirement is that there be a “quorum” of the required people in attendance for the meeting. If insufficient people are in attendance, the action being taken will be invalid. Once it is determined that a quorum is present, business items should be introduced, discussed, and then voted upon. The vote should be counted and recorded. Minutes of the meeting should be prepared and approved by the president or other presiding officer of the meeting.