§ 7-102-105 — Organization of corporation

(1) After incorporation:

(a) If initial directors are not elected in the articles of incorporation, the
incorporators may hold a meeting, at the call of a majority of the incorporators, to
adopt initial bylaws, if desired, and to elect a board of directors; and

(b) The initial directors may hold a meeting, at the call of a majority of the
directors, to adopt bylaws, if desired, to appoint officers, and to carry on any other
business.

(2) Action required or permitted by articles 101 to 117 of this title to be taken
by incorporators at an organizational meeting may be taken without a meeting if the
action is taken in the manner provided in section 7-108-202 for action by directors
without a meeting.

(3) An organizational meeting may be held in or out of this state.

Legislative History

Source: L. 93: Entire article added, p. 744, � 1, effective July 1, 1994.