Section 10.20.166. Organizational meeting of directors; first meeting of members.

   (a) After the issuance of the certificate of incorporation an organizational meeting of the board of directors named in the articles of incorporation shall be held, either inside or outside the state, at the call of a majority of the incorporators, for the purpose of adopting bylaws, electing officers, and the transaction of other business as may come before the meeting. The incorporators calling the meeting shall give at least three days' notice of the meeting by mail to each director named, which shall state the time and place of the meeting.
   (b) A first meeting of the members may be held at the call of a majority of the directors for purposes stated in the notice of the meeting.

Notes

History

(Sec. 1 ch 99 SLA 1968)