California Simplifies Requirements for Electronic Communications to Shareholders and Corporate Members

The popularity of email and other forms of electronic communication may give the impression that these are unconditionally acceptable ways for corporations to communicate to their shareholders and directors. In fact, a California corporation's ability to use email to communicate to shareholders and directors is subject to significant limitations. In the case of communications to individual shareholders, these limitations are quite burdensome. This summer, Governor Schwarzenegger signed into law a bill, AB 285, that is intended to alleviate some of the more problematical limitations on email and other forms of electronic communications by California corporations to their shareholders. This new law will take effect on January 1, 2010.

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