14-2-205. Organization of corporation.

After incorporation:#

1. (1)

   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;#

2. (2)

   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. (A)

      To elect directors and complete the organization of the corporation; or#

   2. (B)

      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 or more consents in writing or by electronic transmission describing the action taken and signed by each incorporator.#

An organizational meeting may be held in or out of this state.#