2006 Kentucky Revised Statutes - .050   Organization of corporation.

271B.2-050 Organization of corporation. (1) After incorporation: (a)  If initial directors are named in the articles of incorporation, the initial directors shall hold an organization 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)  If initial directors are not named in the articles, the incorporator or incorporators shall hold an organization meeting at the call of a majority of the incorporators: 1. To elect directors and complete the organization of the corporation; or 2. To elect a board of directors who shall complete the organization of the corporation. (2) Action required or permitted by this chapter to be taken by incorporators at an organization meeting may be taken without a meeting if the action taken is evidenced by one (1) or more written consents describing the action taken and signed by each incorporator. (3) An organization meeting may be held in or out of this state. Effective: January 1, 1989 History: Created 1988 Ky. Acts ch. 23, sec. 19, effective January 1, 1989.