We use cookies to improve security, personalize the user experience,
enhance our marketing activities (including cooperating with our marketing partners) and for other
business use.
Click "here" to read our Cookie Policy.
By clicking "Accept" you agree to the use of cookies. Read less
Understanding Court Ordered Meeting (Corporate Law): Key Insights and Definitions
Definition & Meaning
A court ordered meeting is a gathering of shareholders mandated by a court when certain conditions are not met within a corporation. This can occur if an annual meeting has not been held within a 13-month period or if a special meeting requested by shareholders is not convened within a specified timeframe. The court has the authority to set the meeting's time, location, and agenda, ensuring that shareholders can participate and vote on important corporate matters.
Table of content
Legal Use & context
This term is primarily used in corporate law, particularly in the context of shareholder rights and corporate governance. Court ordered meetings are significant in ensuring that shareholders can exercise their rights when a corporation fails to hold required meetings. This process may involve using legal forms to request a meeting or to respond to court orders.
Key legal elements
Real-world examples
Here are a couple of examples of abatement:
Example 1: A shareholder of a corporation applies to the court for a meeting because the annual meeting has not occurred for over 14 months. The court orders the meeting to be held within a specified timeframe.
Example 2: A group of shareholders demands a special meeting to discuss urgent corporate matters. When the corporation fails to notify them within 60 days, they seek a court order to compel the meeting (hypothetical example).
Relevant laws & statutes
The primary statute governing court ordered meetings is found in Florida Statutes, specifically Fla. Stat. § 607.0703. This statute outlines the conditions under which a court can order a meeting and the powers granted to the court regarding the meeting's logistics.
State-by-state differences
State
Key Differences
Florida
Allows court ordered meetings under specific conditions as outlined in state statutes.
Delaware
Has similar provisions but may differ in the required notice periods and procedures.
California
Requires different thresholds for shareholder applications to the court for meetings.
This is not a complete list. State laws vary, and users should consult local rules for specific guidance.
Comparison with related terms
Term
Definition
Key Differences
Annual Meeting
A regularly scheduled meeting for shareholders to discuss corporate matters.
Annual meetings are scheduled by the corporation, while court ordered meetings are mandated by a court.
Special Meeting
A meeting called to address specific issues outside of the annual meeting.
Special meetings can be requested by shareholders, whereas court ordered meetings arise from legal action when such requests are ignored.
Common misunderstandings
What to do if this term applies to you
If you believe a court ordered meeting is necessary, consider the following steps:
Review your corporation's bylaws and state laws regarding shareholder meetings.
Gather support from other shareholders if possible.
Consult a legal professional to assist with the application process to the court.
Explore US Legal Forms for templates that may help you draft necessary documents.
Find the legal form that fits your case
Browse our library of 85,000+ state-specific legal templates.