                                 CODE OF VIRGINIA

ORGANIZATION OF CORPORATION (§ 13.1-623)

A. After incorporation:

   1. If initial directors are named in the articles of incorporation, the
   initial directors shall hold an organizational meeting, at the call of a
   majority of the directors, to complete the organization of the corporation by
   appointing officers, adopting bylaws, and carrying on any other business
   brought before the meeting; or

   2. If initial directors are not named in the articles of incorporation, the
   incorporator or incorporators shall hold an organizational meeting at the call
   of a majority of the incorporators:
   				a. To elect a board of directors and complete the organization of the
   corporation; or
   				b. To elect a board of directors who shall complete the organization of
   the corporation.

B. Action required or permitted by this chapter to be taken by incorporators or
the initial directors at an organizational meeting may be taken without a
meeting if the action taken is evidenced by one or more written consents
describing the action taken and signed by each incorporator or initial director.

C. An organizational meeting may be held in or out of the Commonwealth.

HISTORY: Code 1950, § 13.1-54; 1956, c. 428; 1972, c. 606; 1974, c. 71; 1975,
c. 500; 1985, c. 522; 2019, c. 734.