Written Consent
A legal mechanism that allows the board of directors or shareholders to approve corporate actions through a signed document rather than holding a formal meeting. Written consent procedures must comply with the company's bylaws and state law requirements, which may specify that unanimous or majority written consent is needed. This process is particularly useful for routine matters or time-sensitive decisions that do not warrant convening a full meeting, and the signed consents become part of the official corporate records.
Related Terms
A formal expression of agreement by the board of directors to approve a specific action or resolution. Board consent can...
A formal statement documenting a decision made by the board of directors, typically following a motion, discussion, and ...
A decision-making standard that requires every eligible voter (all board members or all shareholders of a given class) t...
A decision-making threshold requiring more than 50% of eligible voters (board members or shareholders) to approve a prop...
More Board Meetings Terms
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