§ 16-32.1-5 - Meetings of the board of directors.
SECTION 16-32.1-5
§ 16-32.1-5 Meetings of the board ofdirectors. – The first meeting of the board of directors shall be called by notice signed byone or more members of the board of directors stating the time, place andpurpose of the meeting, and mailed to each director at his/her usual place ofresidence at least five (5) days before the day appointed for the meeting;provided, however, that the first meeting of the board of directors may be heldby agreement in writing of all such board of directors without such notice. Atthe first meeting the board of directors shall organize the research foundationby adopting such bylaws, rules and regulations as they shall deem necessary forthe election of officers, the admission of new members, the management andsafekeeping of the foundation's property, and generally for conducting itsaffairs and carrying out of the purposes of its organization, by electing theexecutive board and such other officers as the bylaws of the researchfoundation shall provide, and by taking such other action as they may deemappropriate in the premises.