§ 7134 Incorporator Powers Before Directors

Key Takeaways

•If a company doesn't name its first directors when it's created, the person or people who started the company can act as directors until real directors are chosen.
•These temporary directors can do important things like create or change the company's rules and pick the real directors and officers.
•This rule helps make sure the company can get started and organized even if the first directors aren't named right away.

Example

A group of friends starts a small business but forgets to name the directors in their paperwork.

One of the friends can step in and do important tasks like making rules for the business or choosing who will be in charge until the real directors are picked.

If initial directors have not been named in the articles, the incorporator or incorporators, until the directors are elected, may do whatever is necessary and proper to perfect the organization of the corporation, including the adoption and amendment of bylaws of the corporation and the election of directors and officers. (Added by Stats. 1978, Ch. 567.)

Key Takeaways

•If a company doesn't name its first directors when it's created, the person or people who started the company can act as directors until real directors are chosen.
•These temporary directors can do important things like create or change the company's rules and pick the real directors and officers.
•This rule helps make sure the company can get started and organized even if the first directors aren't named right away.

Example

A group of friends starts a small business but forgets to name the directors in their paperwork.

One of the friends can step in and do important tasks like making rules for the business or choosing who will be in charge until the real directors are picked.

Key Takeaways

Example

Key Terms

References

§ 7134 Incorporator Powers Before Directors

Key Takeaways

Example

Key Terms

References

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References