General meeting
This term refers to the law of the country selected below.
Czech Republic
What is meant by the term ‘general meeting’?
The general meeting is the supreme governing body, particularly in the case of capital companies, i.e. joint-stock companies and limited liability companies. It is a meeting of shareholders or members at which they may exercise their rights to participate in decision-making and other shareholder rights, in particular the right to information. Decisions are taken by way of resolutions.
As a rule, the general meeting decides by a simple majority of the votes of the shareholders/partners present, unless the law or the articles of association require a different majority.
The powers of the general meeting include, in particular, the approval of financial statements, changes to the share capital, and, as a rule, the appointment and removal of members of the statutory bodies, as well as other matters entrusted to it by law, the articles of association or the partnership agreement.
