Impact To Services And Offices Due To COVID-19

State Legislative Updates

Virtual Shareholder Meetings – An Update

Since publication of our article States Authorize Virtual Shareholder Meetings During Pendency of COVID-19 Pandemic the following states have issued new or additional guidance on the holding of virtual shareholder meetings by their domestic corporations during the COVID-19 emergency.

Executive Order 2015 suspends provisions of Arkansas law prohibiting Arkansas corporations, including banks, from holding meetings by means of remote communication.

The Governor’s Tenth Modification of the Declaration of a State of Emergency for the State of Delaware Due to a Public Health Threat.

Executive Order 23 suspends certain provisions regarding remote meetings for business and nonprofit corporations.

Executive Order 503 (See Section 68).

Executive Order 34 facilitates meetings of stockholders of corporations and REITS by remote communication.

House Bill 4598

Executive Order 1469 suspends provisions of the business corporation act to the extent they require shareholder meetings to be held at a physical location.

New Jersey
Senate Bill 2342 amends the Nonprofit Corporation Act regarding the place of member meetings and notices of member meetings.

New York
Executive Order 202.18 suspends a provision in the Not-for-Profit Corporation Law to allow annual meetings of members to be conducted remotely.

Rhode Island
Executive Order 20-22 authorizes certain business corporations having already given notice of a shareholders’ meeting to be held at a physical location in the state to send follow up notice that the meeting will instead be held solely by remote communication.

Executive Order 20-51 suspends specified provisions in the nonprofit corporation law concerning member voting, and member and director meetings including member committee meetings.

DFI’s Emergency Guidance on Annual Meeting Requirements for Entities Formed under Statutes Administered by the Wisconsin Department of Financial Institutions.

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