Action by Consent of Shareholders (Washington)
About this template
The legal template "Action by Consent of Shareholders (Washington) under USA law" provides a framework and guidelines for corporations registered in the state of Washington to take action and make decisions without the need for a formal shareholders' meeting.
In Washington (as in many other U.S. states), corporate law generally requires that shareholder decisions be made at formal meetings where shareholders can vote on proposed actions. However, there are instances when convening such meetings may be impractical or time-consuming.
This template sets out the process by which shareholders can give their written consent, waiving the requirement for a physical meeting, to approve certain actions or resolutions proposed by the corporation's board of directors. It includes provisions on how to properly draft, distribute, and validly obtain shareholder consent for such actions.
By utilizing this template, corporations can ensure compliance with regulatory requirements, maintain corporate governance standards, and expedite decision-making processes by relying on the shareholders' consent rather than organizing a formal meeting. The template takes into account the legal nuances of Washington state and incorporates relevant clauses to safeguard the rights and interests of both the shareholders and the corporation.