Annual General Meeting of Quotaholders

What it is

Under art. 71 of CVM Resolution 175, the vote on the financial statements must take place within 60 days after they are submitted to the CVM, and the meeting may only be held at least 15 days after the statements are made available to quotaholders (art. 71, § 1), a period that a meeting attended by all quotaholders may waive (§ 2). If the meeting is not convened because quotaholders do not attend, statements whose audit report has no modified opinion may be deemed approved (art. 71, § 3). The call notice must be given at least 10 days in advance (art. 72, § 4); in the FII and the FIAGRO, the first call of the ordinary meeting must be given at least 30 days in advance (Annex III, art. 13, § 2, I; Annex VI, art. 19, § 5, I), with the statements available on the call date (Annex III, art. 14, § 1). The minutes are due within 8 days and the summary of decisions on the same day (Annex III, art. 36, V and VI; Annex VI, art. 33, VI and VII). In the FIP, since the statements go to the CVM within 150 days of year-end (Annex IV, art. 29, III), the meeting votes on them within 60 days after that filing. This calendar's automatic alert uses 150 days after 31 December (90 days for the statements plus 60) and is therefore not sent for FIPs.