The Medicines Company

New CompanyNew York Life Insurance Company is a mutual insurance company, which implies it’s not publicly traded and has no shareholders. Instead, its policy homeowners are those who share in ownership rights of the corporate. With a mutual firm, purchasers who purchase taking part merchandise are entitled to vote within the board of directors elections and are eligible to share in annual dividends which can be declared. The company’s priority is to safeguard their interests. Policies issued by our subsidiary companies aren’t participating and don’t share in these rights.

The repealed Act, under¬†its Section 131,¬†made it necessary for all firms to hold an annual basic meeting. Conversely, Section 138 of the new Act merely makes this necessary for public companies. It can therefore be inevitably inferred that non-public companies can therefore dispense with the holding of an annual general assembly. It is submitted that, contrary to the repealed Act … Read more