§ 23-1-21-5 — Organizational meeting

Indiana § 23-1-21-5

• Jurisdiction: Indiana
• Title 23: BUSINESS AND OTHER ASSOCIATIONS
• Art. 1: INDIANA BUSINESS CORPORATION LAW
• Ch. 21: Incorporation

Text

(a) After incorporation:
(1) if initial directors are named in the articles of incorporation,
the initial directors shall hold an organizational meeting, at the
call of a majority of the directors, to complete the organization of
the corporation by electing or appointing officers, adopting
bylaws, and carrying on any other business brought before the
meeting;
(2) if initial directors are not named in the articles of
incorporation, the incorporator or incorporators shall hold an
organizational meeting at the call of a majority of the
incorporators to elect a board of directors who shall complete the
organization of the corporation; and
(3) if a corporation, under IC 23-1-33-1(c), will not have a board
of directors, the subscribers shall hold an organizational meeting
to complete the organization of the corporation.
(b) An action required or permitted by this article to be taken by
incorporators or subscribers at an organizational meeting may be taken
without a meeting if the action taken is evidenced by one (1) or more
written consents that describe the action taken and that are signed by
each incorporator or subscriber.
(c) An organizational meeting may be held in or out of Indiana.

Legislative History

As added by P.L.149-1986, SEC.5. Amended by P.L.226-1989, SEC.2.