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MStrisik
MStrisik, Attorney
Category: Legal
Satisfied Customers: 288
Experience:  General practitioner; former litigator.
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I own stock in a small company that has not had a share holders

Resolved Question:

I own stock in a small company that has not had a share holders meeting in over 2 years what are my rights for insisting on a meeting and what do I do?
Submitted: 8 years ago.
Category: Legal
Expert:  Ellen replied 8 years ago.
What state is the company incorporated in? What percentage of the stock do you own?
Customer: replied 8 years ago.
The company is incorporated in the state of Iowa and I own 1.5 percent of the company.
Expert:  MStrisik replied 8 years ago.

HiCustomer

 

I can help you.

 

Under the Iowa Business Corporation Act (Iowa Code chapter 496C), if the board does not call an annual meeting within 15 months of the last one, any shareholder can force the company to call a meeting. The board also has to send written notice of each shareholder meeting to every shareholder, usually between 10 and 60 days before the meeting. You should make this demand in writing to the Company's Board of Directors.

 

Here is a link to an article with other updates to the Iowa Act:

 

http://www.dorsey.com/Resources/Detail.aspx?pub=59

 

I hope this helps. Feel free to follow-up if you need further assistance.

 

M. Strisik, Esq.

 

 

 

Expert:  MStrisik replied 8 years ago.
Again, I hope I was helpful. Please accept my answer if you are satisfied.
MStrisik, Attorney
Category: Legal
Satisfied Customers: 288
Experience: General practitioner; former litigator.
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