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2019 Kentucky Revised Statutes
Chapter 271B - Business corporations
Subtitle 271B.2 - Incorporation
271B.2-050 Organization of corporation.

Universal Citation: KY Rev Stat § 271B.2-050 (2019)
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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 Effective: July 15, 2010 History: Repealed and reenacted 2010 Ky.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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