2017 New York Laws
BNK - Banking
Article 15 - General Provisions Applicable to Banking Stock Corporations, Limited Liability Investment Companies, and Limited Liability Trust Companies
Title 4 - Formation of Corporations
4005 - Organization Meeting.
4005. Organization meeting. 1. After the corporate existence has begun, an organization meeting of the incorporators shall be held within this state, for the purpose of adopting by-laws and the transaction of such other business relating to organization as may come before the meeting. The meeting may be held at the call of any incorporator, who shall give at least five days' notice thereof by mail to each other incorporator, which notice shall set forth the time and place of the meeting. Notice need not be given to any incorporator who attends the meeting or submits a signed waiver of notice before or after the meeting. A majority shall constitute a quorum and the act of the majority of the incorporators present at a meeting at which a quorum is present shall be the act of the incorporators.
2. Any action permitted to be taken at the organization meeting may be taken without a meeting if each incorporator signs an instrument setting forth the action so taken.
3. If an incorporator dies or is for any reason unable to act, action may be taken as provided in such event in subdivision three of section six thousand fifteen.
