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Business associations

... organisational meeting is held by either the incorporators or dirs named in the articles. Matters determined at meeting: 1) Incorporators elect directors, if no dirs are named in the articles; 2) Directors choose officers; 3) Directors ratify pre-incorporation transactions; 4) Directors authorise issuance of shares 5) Directors adopt by-laws (if necessary), corporate seal and stock certificate B. DEFECTS IN FORMATION PROCESS--" DE JURE" AND «DE FACTO» CORPS --when there is a defect or ...