Republic of the Philippines Batangas State University COLLEGE OF ACCOUNTANCY BUSINESS ECONOMICS AND INTERNATIONAL HOSPITALITY MANAGEMENT Batangas City Title VI –Meetings I.Definitions Define or give the meaning of the following: 1.Regular meeting of stockholders or member; Regular meetings of stockholders or members shall be held annually on a date fixed in the by-laws, or if not so fixed, on any date after April 15 of every year as determined by the board of directors or trustees. 2.Voting trust agreement; and In voting trust agreement, one or more stockholders of a stock corporation may create a voting trust for the purpose of conferring upon a trustee or trustee the right to vote and other rights pertaining to the shares for a period not exceeding five years at any one time. 3.Representative voting. Representative voting is where a stockholder or member may vote, directly or indirectly, through a representative. Section 54 authorizes executors, administrators, receivers, or other legal representatives to attend and vote in behalf of the stockholders or members under their administration without need of any written proxy. II.Discussions 1.Give requisites for valid meeting of stockholders or members. The requisites for a valid meeting of stockholders or members are: (1)It must be held at the proper place; (2)It must be held at the stated date and at the appointed time or at a reasonable time thereafter; (3)It must be called by the proper person; (4)There must be previous notice; and (5)There must be a quorum. 2.What are the three meanings of the term “proxy”?