§ 4005 — Organization meeting

New York § 4005

• Jurisdiction: New York
• Law BNK: Banking
• Title 4: Formation of Corporations
• Art. 15: General Provisions Applicable to Banking Stock Corporations, Limited Liability Investment Companies, and Limited Liability Trust Companies

Text

§ 4005. Organization meeting. 1. After the corporate existence has\nbegun, an organization meeting of the incorporators shall be held within\nthis state, for the purpose of adopting by-laws and the transaction of\nsuch other business relating to organization as may come before the\nmeeting. The meeting may be held at the call of any incorporator, who\nshall give at least five days' notice thereof by mail to each other\nincorporator, which notice shall set forth the time and place of the\nmeeting. Notice need not be given to any incorporator who attends the\nmeeting or submits a signed waiver of notice before or after the\nmeeting. A majority shall constitute a quorum and the act of the\nmajority of the incorporators present at a meeting at which a quorum is\npresent shall be the act of the incorporators.\n 2. Any action permitted to be taken at the organization meeting may be\ntaken without a meeting if each incorporator signs an instrument setting\nforth the action so taken.\n 3. If an incorporator dies or is for any reason unable to act, action\nmay be taken as provided in such event in subdivision three of section\nsix thousand fifteen.\n