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271B.2-050 Organization of corporation.
(1)
(2)
(3)
After incorporation:
(a) 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) If initial directors are not named in the articles, the incorporator or
incorporators shall hold an organizational 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.
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 (1) or more written consents describing the action taken and
signed by each incorporator.
An organizational meeting may be held in or out of this state.
Effective: July 15, 2010
History: Repealed and reenacted 2010 Ky. Acts ch. 51, sec. 54, effective July 15, 2010.
-- Amended 2007 Ky. Acts ch. 137, sec. 54, effective June 26, 2007. -- Created 1988
Ky. Acts ch. 23, sec. 19, effective January 1, 1989.
Legislative Research Commission Note (7/15/2010). 2010 Ky. Acts ch. 51, sec. 183,
provides, "The specific textual provisions of Sections 1 to 178 of this Act which
reflect amendments made to those sections by 2007 Ky. Acts ch. 137 shall be deemed
effective as of June 26, 2007, and those provisions are hereby made expressly
retroactive to that date, with the remainder of the text of those sections being
unaffected by the provisions of this section."
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