Place of meetings: Overview, definition, and example
What is place of meetings?
Place of meetings refers to the designated location where official gatherings, such as board meetings, shareholder meetings, or committee meetings, are held. This can be a physical location, such as a corporate office or conference room, or a virtual setting, such as a video conference platform.
For example, a corporation’s bylaws may specify that all board meetings must take place at the company’s headquarters unless otherwise agreed.
Why is place of meetings important?
The place of meetings is important because it ensures clarity on where official business discussions and decisions will occur. It helps organizations plan logistics, establish rules for participation, and determine whether meetings must be in-person or can be conducted remotely.
For businesses, defining a place of meetings clause in governing documents or contracts ensures consistency, legal compliance, and accessibility for all participants. It also helps address issues related to jurisdiction, travel requirements, and technology use for remote meetings.
Understanding place of meetings through an example
Imagine a company’s board of directors holds quarterly meetings. The company’s bylaws state that meetings must take place at the corporate headquarters unless a majority of directors agree to hold them elsewhere. This ensures that all directors are aware of the standard meeting location.
In another scenario, a shareholders’ agreement for a multinational company allows general meetings to be conducted virtually via an online platform. This flexibility accommodates international shareholders who may not be able to travel for in-person meetings.
An example of a place of meetings clause
Here’s how a place of meetings clause might appear in an agreement:
“Meetings of the Board of Directors shall be held at the Company’s principal office or at such other place as may be determined by the Board. Meetings may also be conducted via teleconference or video conference, provided that all participants can communicate effectively.”
Conclusion
Place of meetings provisions help organizations establish clear guidelines for where official meetings will be held, whether in person or remotely. These clauses ensure accessibility, consistency, and compliance with governance requirements.By including a place of meetings clause in agreements, businesses can define meeting locations, accommodate participants, and adapt to modern remote communication needs while maintaining structured decision-making processes.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.