Legislation

Search OpenLegislation Statutes
This entry was published on 2014-09-22
The selection dates indicate all change milestones for the entire volume, not just the location being viewed. Specifying a milestone date will retrieve the most recent version of the location before that date.
SECTION 4005
Organization meeting
Banking (BNK) CHAPTER 2, ARTICLE 15, TITLE 4
§ 4005. Organization meeting. 1. After the corporate existence has
begun, an organization meeting of the incorporators shall be held within
this state, for the purpose of adopting by-laws and the transaction of
such other business relating to organization as may come before the
meeting. The meeting may be held at the call of any incorporator, who
shall give at least five days' notice thereof by mail to each other
incorporator, which notice shall set forth the time and place of the
meeting. Notice need not be given to any incorporator who attends the
meeting or submits a signed waiver of notice before or after the
meeting. A majority shall constitute a quorum and the act of the
majority of the incorporators present at a meeting at which a quorum is
present shall be the act of the incorporators.

2. Any action permitted to be taken at the organization meeting may be
taken without a meeting if each incorporator signs an instrument setting
forth the action so taken.

3. If an incorporator dies or is for any reason unable to act, action
may be taken as provided in such event in subdivision three of section
six thousand fifteen.