Laws
- Annual Meetings – A meeting of shareholders must be held annually at a time and place as stated in the bylaws.[1]
- Corporate Bylaws – An initial set of bylaws must be adopted by the board of directors or the incorporators. All provisions must abide by state law and the articles of incorporation.[2]
- Issuance of Stock – The directors can issue shares for cash, promissory notes, services performed, contracts for services to be performed, or other securities of the corporation.[3]
Emergency Bylaws
Directors can adopt emergency bylaws to create provisions for continuing business affairs in the event of an emergency that prevents the assembly of a board meeting.[4]