• Annual Meetings – A corporation must hold a meeting of shareholders annually at a time stated in or fixed in accordance with the bylaws at which directors must be elected.^[2]
• Corporate Bylaws – The incorporators or board of directors of a corporation shall adopt initial bylaws containing provisions that are consistent with state law and the articles of incorporation.^[3]
• Issuance of Stock – The board of directors may authorize shares to be issued for consideration consisting of any tangible or intangible property or benefit to the corporation.^[4]

The corporation may adopt a set of emergency bylaws to manage the business during a catastrophic event. These bylaws will become operative in an emergency where a majority of the board of directors is unable to congregate.^[5]