Action taken by shareholders without holding a meeting is valid under the RMBCA if it is evidenced by a written consent signed by all the shareholders entitled to vote on the action.

Question

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According to Section 7.07(b) of the Revised Model Business Corporation Act (RMBCA), action taken by shareholders without holding a meeting is valid if it is evidenced by a written consent signed by all the shareholders entitled to vote on the action.

Action Taken by Shareholders Without Holding a Meeting Is Valid