Reuniões virtuais de acionistas e conselhos: considerações importantes para empresas da Flórida

In these unprecedented times of “shelter in home” orders, remote working, and other strategies Americans are taking to mitigate the risks associated with COVID-19, we anticipate that many organizations will decide to transition to virtual meetings of shareholders, directors, members, and managers of entities.  This alert is intended to provide basic guidance to entities organized in Florida considering virtual meetings. For additional considerations applicable to public companies, please see our prior client alert. 

Considerações gerais para reuniões virtuais

As our world has become increasingly technologically dependent, many organizations have already addressed the concept of remote meetings in their organizational documents.  In that regard, you should review your by-laws (if a corporation) or operating agreement (if a limited liability company (“LLC”)).  If your organizational documents provide for remote meetings, you should follow the procedures outlined in them, provided that they must comply with the requirements of the Florida Statutes.

If your organizational documents/operating agreement do not already provide for virtual meetings, Florida Statutes will apply.

Sociedades de Responsabilidade Limitada

Meetings of members and meetings of managers of LLCs may be held by remote communications if all persons participating in the meeting can hear each other.

Virtual meetings for LLCs may not be an issue since they are not required to hold annual meetings under Florida Statutes.

Empresas com fins lucrativos

Reuniões de acionistas

Shareholder meetings may be held by means of remote communication if authorized by the corporation’s Board of Directors (the “Board”) and to the extent certain steps are taken by the corporation.

These steps include, without limitation, for the corporation (a) to implement reasonable measures to verify that each person present and permitted to vote is a shareholder (or proxy), (b) to implement reasonable measures to provide shareholders and proxies a reasonable opportunity to participate in the meeting, and (c) to maintain a record of voting or action by any shareholder or proxy that votes or takes other action by means of remote communication.¹

Reuniões do Conselho de Administração

Meetings of the Board of for-profit corporations may be held by any means of communication.

Florida Statutes provide that unless the articles of incorporation or by-laws provide otherwise, the Board may permit a meeting to occur by means of any communication as long as all participating directors may simultaneously hear each other during the meeting.

Se uma reunião for realizada remotamente, todos os diretores participantes devem ser informados de que está a decorrer uma reunião na qual podem ser tratados assuntos oficiais.

Florida Statutes also provide for emergency powers and provide for certain actions that may be taken in the event that a quorum of the Board of a for-profit corporation cannot readily be assembled because of a catastrophic event.² Thus, in the event that a quorum of the Board of the for-profit corporation cannot be assembled due to COVID-19 (for example), implementing statutorily authorized emergency powers may be considered.

In light of the recent development, the corporation’s policies and practices surrounding shareholder and director virtual meetings, and the corporation’s means of “remote communication,” should be reviewed carefully to confirm compliance with Florida Statutes.

Corporações sem fins lucrativos

Membros (se houver)

Member meetings may be held by means of remote communication if authorized by the not-for-profit corporation’s Board and to the extent certain steps are taken by the not-for-profit corporation.

These steps include, without limitation, for the corporation (a) to implement reasonable measures to verify that each person present and permitted to vote is a shareholder (or proxy), (b) to implement reasonable measures to provide members and proxies a reasonable opportunity to participate in the meeting, and (c) to maintain a record of voting or action by any members or proxy that votes or takes other action by means of remote communication.³

Diretores

As reuniões dos diretores de empresas sem fins lucrativos podem ser realizadas por qualquer meio de comunicação.

Florida Statutes provide that unless the articles of incorporation or the by-laws provide otherwise, the Board may conduct meetings through the use of any means of communication by where all participating directors simultaneously hear or read each other’s communications during the meeting.

Se uma reunião for realizada remotamente, todos os diretores participantes devem ser informados de que está a decorrer uma reunião na qual podem ser tratados assuntos oficiais.

Florida Statutes also provide for emergency powers and provides for certain actions that may be taken in the event that a quorum of the Board of a not-for-profit cannot readily be assembled because of some catastrophic event.⁴ Thus, in the event that a quorum of the Board cannot be assembled due to COVID-19 (for example), implementing statutorily authorized emergency powers may be considered.

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¹ See generally Fla. Stat. § 607.0709.

² See generally Fla. Stat. § 617.0721(3).

³ See generally Fla. Stat. § 607.0709.

⁴ See generally Fla. Stat. § 617.0303.