Court Ordered Meeting(Corporate Law) Law and Legal Definition
A court can either order an annual meeting or a special meeting to be held on application of any shareholder of a corporation. The court is entitled to do the following things with respect to a court ordered meeting :
1. Fix the time and place of the meeting;
2. Determine the shares entitled to participate in the meeting;
3. Specify a record date for determining shareholders entitled to notice of and to vote at the meeting;
4. Prescribe the form and content of the meeting notice;
5. Fix the quorum required for specific matters to be considered at the meeting
Following is a state statute that defines a court ordered meeting.
“(1) The circuit court of the county where a corporation's principal office is located, if located in this state, or where a corporation's registered office is located if its principal office is not located in this state, may, after notice to the corporation, order a meeting to be held:
(a) On application of any shareholder of the corporation entitled to vote in an annual meeting if an annual meeting has not been held within any 13-month period; or
(b) On application of a shareholder who signed a demand for a special meeting valid under s. 607.0702, if:
1. Notice of the special meeting was not given within 60 days after the date the demand was delivered to the corporation's secretary; or
2. The special meeting was not held in accordance with the notice.
(2) The court may fix the time and place of the meeting, determine the shares entitled to participate in the meeting, specify a record date for determining shareholders entitled to notice of and to vote at the meeting, prescribe the form and content of the meeting notice, and enter other orders as may be appropriate”. [Fla. Stat. § 607.0703]
