Smith Anderson (North Carolina): Governor Cooper Temporarily Authorizes Virtual-Only Meetings of Shareholders

In our previous alert, Annual Meetings in a World Without Meetings: The Impact of COVID-19 on Public Companies, we discussed some of the practical steps that public companies can take to hold annual meetings in light of the prevalence of stay at home orders in North Carolina and across the country. As discussed in the alert, North Carolina corporations have historically not been permitted to hold virtual-only meetings of shareholders, as Section 55-7-09(b) of the North Carolina Business Corporation Act (NCBCA) requires that annual meetings be held in a physical location, either exclusively or with an option to participate remotely. MORE.

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