A. Meetings of shareholders may be held at any place within or without this state in accordance with the bylaws. If no other place is designated in, or fixed in accordance with, the bylaws, meetings shall be held at the principal place of business of the corporation.
B. An annual meeting of the shareholders shall be held at the time designated in or fixed in accordance with the bylaws. If the annual meeting is not held within any thirteen-month period, the district court may, on the application of any shareholder, order a meeting to be held.
C. Special meetings of the shareholders may be called by the board of directors, the holders of not less than one-tenth of all the shares entitled to vote at the meeting or such other persons as may be authorized in the articles of incorporation or the bylaws.
History: 1953 Comp., § 51-24-27, enacted by Laws 1967, ch. 81, § 27; 1975, ch. 64, § 13; 2001, ch. 200, § 47.
Compiler's notes. — This section is derived from Section 28 of the ABA Model Business Corporation Act.
The 2001 amendment, effective July 1, 2001, substituted "principal place of business" for "registered office" in Subsection A.
Law reviews. — For article, "1975 Amendments to the New Mexico Business Corporation Act," see 6 N.M.L. Rev. 57 (1975).
Am. Jur. 2d, A.L.R. and C.J.S. references. — 19 Am. Jur. 2d Corporations §§ 948 to 962; 18B Am. Jur. 2d Corporations §§ 1365 to 1367, 1436.
Time for regular meeting of stockholders, power of directors to change, 2 A.L.R. 558, 8 A.L.R. 678.
Informality of meeting of stockholders as affecting action taken thereat, 51 A.L.R. 941.
Admissibility of oral evidence as to proceedings at meetings of stockholders or directors, 66 A.L.R. 1328, 48 A.L.R.2d 1259.
Remedies to restrain or compel holding of stockholders' meetings, 48 A.L.R.2d 615.
18 C.J.S. Corporations §§ 362 to 396.
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