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Current as of January 01, 2024 | Updated by Findlaw Staff
1. The district court of the county where the principal executive office of a corporation is located may order a meeting to be held:
a. On application of a shareholder or shareholders holding five percent or more of the voting power of all shares entitled to vote, if a meeting was not held within the earlier of:
(1) Six months after the fiscal yearend of the corporation; or
(2) Fifteen months after its last meeting; or
b. On application of a voting shareholder who signed a demand for a special meeting valid under section 10-19.1-72 or a person entitled to call a special meeting if:
(1) Notice of the special meeting was not given within thirty days after the date the demand was delivered to a corporate officer; or
(2) The special meeting was not held in accordance with the notice.
2. The court may:
a. Fix the time and place of the meeting;
b. Specify a record date for determining shareholders entitled to notice of and to vote at the meeting;
c. Prescribe the form and content of the meeting notice;
d. Fix the quorum required for specific matters to be considered at the meeting or direct that the votes represented at the meeting constitute a quorum for action on those matters; and
e. Enter other orders necessary to accomplish the purposes of the meeting.
3. If the court orders a meeting it may also order the corporation to pay the costs of the shareholder, including reasonable attorney's fees, incurred to obtain the order.
Cite this article: FindLaw.com - North Dakota Century Code Title 10. Corporations § 10-19.1-72.1. Court-ordered meeting of shareholders - last updated January 01, 2024 | https://codes.findlaw.com/nd/title-10-corporations/nd-cent-code-sect-10-19-1-72-1/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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