§414-35 - Organization of corporation.

[§414-35]  Organization of corporation. (a)  After incorporation:

(1)  If initial directors are named in the articles ofincorporation, the initial directors shall hold an organizational meeting, atthe call of a majority of the directors, to complete the organization of thecorporation by appointing officers, adopting bylaws, and carrying on any otherbusiness brought before the meeting;

(2)  If initial directors are not named in thearticles, the incorporator or incorporators shall hold an organizationalmeeting at the call of a majority of the incorporators to elect:

(A)  Directors and complete the organization ofthe corporation; or

(B)  A board of directors who shall completethe organization of the corporation.

(b)  Action required or permitted by thischapter to be taken by incorporators at an organizational meeting may be takenwithout a meeting if the action taken is evidenced by one or more writtenconsents describing the action taken and signed by each incorporator.

(c)  An organizational meeting may be held inor out of this State. [L 2000, c 244, pt of §1]

Revision Note

  Subsection (a)(2)(A) and (B) redesignated pursuant to§23G-15(1).