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Organizational Meeting

The organizational meeting is an initial meeting in which the basic organizational formalities of a corporation organized under the laws of a US state such as Delaware are determined. It is often not held in person but instead documented through unanimous written consent of the company’s board of directors, which can occur as soon as the certificate of incorporation has been filed.

In an organizational consent the board of directors typically elects officers, authorizes the issuance of stock to founders, establishes a bank account, and authorizes the payment of incorporation expenses.