• Annual Meetings – A corporation must hold an annual shareholders meeting for the election of directors and for the transaction of any proper business at a time in accordance with the bylaws.^[2]
• Corporate Bylaws – The directors or incorporators must adopt an initial set of bylaws with provisions in compliance with state law and the articles of incorporation.^[3]
• Issuance of Stock – The board of directors can issue shares for any tangible or intangible property or benefit to the corporation, including cash, promissory notes, services performed, promises to perform services evidenced by a written contract, or other securities of the corporation.^[4]

The corporation may adopt emergency bylaws that provide procedures for emergency board meetings and the appointment of substitute directors. Such measures are only effective during emergencies that prevent a quorum of the regular board members from being assembled.^[5]