General shareholder's meeting decisions in joint stock companies, the process of decision making and the effects of the decisions

General shareholder?s meeting is a very important indispensable organ of the joint stock company. Joint Stock Company is managed by the decisions taken at the general shareholder? meeting, in which every shareholder has the right for accession. Company?s decree is formed at the general shareholder?s meeting. General shareholder?s meeting is subject to company?s rights and obligations while it is authorized to act on its behalf with the company?s name. General shareholder?s meeting is the only organ in which every shareholder is represented by himself or with a representative. In general shareholder?s meeting, shareholders express views on the agenda and make authorized meeting decisions. The general shareholder?s meeting?s rule in joint stock companies can be defined as ?shareholder?s decree declaration of an offer given in ordinary, which occurs in voting taking place at the general shareholder?s meeting, directed towards defining a legal conclusion on mainly internal relations sometimes at external relations?. While the general shareholder meeting?s decision is legal in attribute, it is generally accepted to be a multilateral legal act. Due to the fact that decree of more than one person is present in the process of decision formation, general shareholder meeting?s decision is a multilateral legal act. It can be stated that, as a result of the fact that general shareholder meeting?s decision has a legal attribute, these decisions should be consistent with defined procedures in TTK (Turkish Commercial Law) and also by multilateral legal act conditions. While TTK (Turkish Commercial Law) has only defined the voidability of invalidity aspect of general shareholder meeting decisions, the decisions not occurring in legal world as binding and are contradictory to imperious nature of the law, absence sanction will prevail.