At the start of the pandemic, NJBIA worked successfully with the state Legislature to allow for remote shareholder meetings that could be facilitated during shutdown orders.
Feeding upon the positives of that temporary law, NJBIA is now strongly supporting a permanent adjustment to make it easier and less expensive for New Jersey corporations to comply with state corporate rules.
NJBIA and the State Chamber of Commerce addressed this letter to the legislative leadership and Gov. Phil Murphy to get behind bill A-4918, which permits incorporated companies to conduct virtual shareholder meetings (VSM) at their discretion.
“What we have found is companies that execute VSMs have much greater attendance, participation and engagement,” said NJBIA Chief Government Affairs Officer Chrissy Buteas. “There is also considerable cost and time savings to be had for companies through virtual VSMs. So we feel this is just smart policy, particularly during these challenging times.”
A-4918 bill, which is sponsored by Assembly Majority Leader Lou Greenwald, was officially introduced on Thursday.