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The first board of directors meeting typically covers much of the same information as the first shareholder meeting (some corporations even combine these meetings or hold them back to back). In this meeting, directors approve initial corporate documents and ensure officer roles are filled.
Appointing a company chairman, and adding other directors. Naming signatories to the company bank accounts and stating who may use the company seal. Allotting shares and acknowledging receipt of monies for shares. Appointing auditors.
Tax exemption status and related benefits Being a nonprofit does not equate to achieving tax-exemption. To obtain status as a 501(c)(3) corporation, a Mississippi non-profit must file Form 1023, Application for Recognition of Exemption with the IRS; P.O. Box 12192; Covington, KY 41012-0192.
An Incorporators' Organizational Meeting is an initial meeting of the incorporators of a company where the initial resolutions to organize the company are recorded. This occurs after Articles of Incorporation are filed and a certificate of incorporation is received from the Secretary of State.
Companies should arrange a first board meeting of the directors as soon as possible after company formation, even if there is only one director. The purpose of this meeting is to formally discuss the management of the business and allow directors to familiarise themselves with the company's articles of association.
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.