• Annual Meetings – Unless directors are elected by written consent as permitted by law, a corporation must hold a meeting of shareholders annually at a time stated in or fixed in accordance with the bylaws.^[2]
• Corporate Bylaws – The incorporators or board of directors of a corporation must adopt initial bylaws for the corporation. The bylaws may contain any provision consistent with law and the articles of incorporation.^[3]
• Issuance of Stock – The board of directors may issue shares for consideration consisting of any tangible or intangible property or benefit to the corporation.^[4]

The board of directors may introduce bylaws that go into effect upon the occurrence of an emergency that prevents a majority of the directors from assembling. These bylaws will run in concert with the rules previously established in the corporate bylaws and shall cease to be operative after the emergency situation expires.^[5]