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How to Assemble Incorporators' Organizational Meeting

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Starting a non-profit and helping it grow so that it can be successful and make a huge impact in the world can be a lot of hard work! So if youre thinking about starting a nonprofit there are a couple things that you should probably do before you get started that will help make sure that you will be successful and make a big impact. If youve seen some of my other videos, welcome back! If this is our first time meeting, my name is Amber Melanie Smith and I am a non-profit a founder, executive director, and speaker on all things social impact service and leadership. Theres really a lot that goes into successfully starting and growing a nonprofit, but in this video I want to talk about three key things that you really need to do before you do any kind of paperwork or even think of a name for your nonprofit to make sure that you can be the most successful at getting it off the ground possible. As someone who started a non-profit when I was in college and now currently run the organizat

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What is the purpose of the first organizational meeting of a corporation?

The first meeting establishes the corporate structure of the company by appointing the initial directors and officers, authorizing the issuance of share to the initial shareholders, authorizing the bank of choice for the corporation, and establishing the principal place of business, in addition to many other important

What is the first meeting of a corporation?

An Incorporators Organizational Meeting is an initial meeting of the incorporators of a company where the initial resolutions to organize the company are recorded. This occurs after Articles of Incorporation are filed and a certificate of incorporation is received from the Secretary of State.

What is the importance of the memorandum of incorporation?

In terms of the Companies Act 71 of 2008, as amended (Act), the memorandum of incorporation (MOI) of a company means the document that sets out rights, duties and responsibilities of shareholders, directors and others within and in relation to a company and all companies are therefore required to have a MOI.

What is the difference between incorporators and directors?

The incorporator is the person or persons who organize the corporation and file the Articles of Incorporation. Once the filing is complete the incorporators function is usually finished. After that the management of the corporation is performed by the directors.

What is an organizational meeting?

Organizational meetings are held to appoint officers, elect or appoint directors, issue shares in the corporation, approve bylaws, setup minute books, appoint or waive the appointment of auditors, set up bank accounts, etc.

Why is the certificate of incorporation important?

The incorporation certificate is an important document which demonstrates that the company has been formed at Companies House as a separate legal entity with its own identity distinct from its directors and shareholders.

Why do you have to hold organizational meetings after the certificate of incorporation has been sent to the corporation?

After incorporation, the incorporators or first directors are required to call an organizational meeting of the directors. The purpose of this first meeting of the directors is to organize the corporation by adopting a number of resolutions that will allow the corporation to conduct its activities.

What happens in an organizational meeting?

Organizational meetings have several functions. They give members a chance to discuss and evaluate goals and objectives and keep you updated on current events. They provide a chance to communicate and keep the group cohesive. But, most of all, meetings allow groups to pull resources together for decision making.

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