Nevada Revised Statutes Section 670A.140 - Banks and Related Organizations

First meeting of corporation: Notice; duties of incorporators; quorum.

1. The first meeting of the corporation must be called by a notice signed by three or more of the incorporators, stating the time, place and purpose of the meeting. A copy of the notice must be mailed or delivered to each incorporator at least 5 days before the day appointed for the meeting. The first meeting may be held without notice upon agreement in writing to that effect, signed by all the incorporators. A copy of the notice or of the unanimous agreement of the incorporators must be recorded in the minutes of the meeting.

2. At the first meeting, the incorporators shall elect a temporary clerk, adopt bylaws, elect a board of directors and take such other action upon matters within the powers of the corporation as the incorporators may see fit. The temporary clerk must be sworn and shall make and attest a record of the proceedings.

3. A majority and not less than three of the incorporators constitutes a quorum for the transaction of business.

Last modified: February 26, 2006