181.0205 Organization of corporation.
(1) Organizational meeting required.
(a) After incorporation, 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 appointing officers, adopting bylaws and carrying on any other business brought before the meeting.
(b) After incorporation, 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 do any of the following:
1. Elect directors and complete the organization of the corporation.
2. Elect a board that will complete the organization of the corporation.
(2) Written consents. Action required or permitted by this chapter to be taken by incorporators at an organizational meeting may be taken without a meeting if the action taken is evidenced by one or more written consents describing the action taken and signed by each incorporator.
(3) Location of organizational meeting. An organizational meeting may be held in or outside of this state.
History: 1997 a. 79.