Section 2.05: Organization of corporation
193 words·~1 min read·
/ma/part-i/title-xxii/chapter-156d/2-5·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 2.05. ORGANIZATION OF CORPORATION
(a)The organization of the corporation shall be completed as follows:
(1)The incorporator or incorporators may hold an organizational meeting before or after incorporation at the call of a majority of the incorporators at which by-laws shall be adopted and the initial directors, a president, treasurer and secretary, shall be elected.
(2)If no organizational meeting of the incorporators is held, the initial directors named in the articles of organization shall hold an organizational meeting after incorporation at the call of a majority of the directors at which by-laws shall be adopted and a president, treasurer and secretary shall be elected.
(3)At the organization meeting of the incorporators or the directors, additional officers may be appointed and any other business may be transacted which is properly brought before the meeting.
(b)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 written consents describing the action taken and signed by each incorporator.
(c)An organizational meeting may be held within and without the commonwealth.