2005 Minnesota Statutes - 317A.171 — Organization.

     317A.171 Organization. 


    Subdivision 1.    Role of incorporators.  If the first 
 board is not named in the articles, the incorporators may elect 
 the first board or may act as directors with the powers, rights, 
 duties, and liabilities of directors, until directors are 
 elected. 


    Subd. 2.    Meeting.  After the issuance of the 
 certificate of incorporation, the incorporators or the directors 
 named in the articles shall, within a reasonable time, hold an 
 organizational meeting at the call of a majority of the 
 incorporators or of the directors named in the articles, or take 
 written action, for the purposes of transacting business and 
 taking actions necessary or appropriate to complete the 
 organization of the corporation.  If a meeting is held, the 
 persons calling the meeting shall give at least three days' 
 notice of the meeting to each incorporator or director named, 
 stating the date, time, and place of the meeting.  


    HIST: 1989 c 304 s 25