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How to Share Incorporators' Organizational Meeting

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In this tutorial, attorney Marie Chris Baton Lasko explains sections 5 and 6 of the revised corporation code. She aims to simplify legal concepts in under 10 minutes. Section 5 introduces four key terms: corporators, incorporators, stockholders, and members. The discussion focuses on defining these terms and clarifying their roles within the context of corporate structure and governance. The video serves as a foundational overview, helping viewers understand important terminology essential for grasping the revised corporation code.

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What is the first meeting of a corporation called?

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 purpose of 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.

What is the first meeting of incorporators?

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 first board meeting?

The First Board Meeting has to be conducted within 30 days from the date of incorporation of the company. The meeting may be conducted at any time decided by the Board and the place of meeting would be the registered office or any other place inside or outside India.

What happens at an organizational meeting for a corporation?

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.

What is the purpose of an incorporator?

An incorporator is the individual who organizes the incorporation and arranges for the Articles of Incorporation to be filed with the Secretary of State. The incorporator signs the Articles, verifying the information submitted is true and correct.

What happens at the first organizational meeting?

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 shareholder meeting?

The first shareholder meeting is an organizational meeting where shareholders ratify and approve the actions of the incorporators. Shareholders also approve shares values, appoint directors and officers if needed, and wrap up other initial tasks.

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Share Incorporators' Organizational Meeting