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30.0118 Organizational meeting-Notice.

Cite as [A.S.C.A. § 30.0118]

(a) After acceptance for record of the articles of incorporation, an organizational meeting of the incorporators or subscribers, or both named in the articles of incorporation shall be held, at the call of a majority thereof, for the purpose of adopting bylaws and electing directors and for the transaction of such other business as may properly come before the meeting.

(b) The persons calling the meeting shall give not less than 3 days notice thereof in writing to each incorporator or subscribers, or both. Such notice shall state the time and place of the meet-ing.

(c) Notice may be waived in writing by a majority of the incorporators or subscribers, or both.

History: 1962, PL 7-20; amd 1979, PL 16-40.

Amendments: 1979 Amended section generally.