Meeting of first directors and quorum
62(1)After issue of the certificate of incorporation, a meeting of the first directors of the corporation shall be held at which the first directors may
(b)
adopt forms of security certificates;
(c)
authorize the issue of securities;
(d)
elect or appoint officers;
(e)
appoint any auditor to hold office until the first annual meeting of shareholders;
(f)
make banking arrangements; and
(g)
transact any other business.
62(2)Subsection (1) does not apply to a body corporate to which a certificate of amalgamation has been issued under subsection 124(4) or to which a certificate of continuance has been issued under subsection 126(4).
62(3)An incorporator or a first director may call the meeting of first directors referred to in subsection (1) by giving not less than five days notice thereof by mail to each director, stating the time and place of the meeting.
62(3.1)If all the directors have died before the first meeting of directors is held, the incorporator may send a notice of change of directors referred to in subsection 71(1) and set out the names and addresses of the new directors who will carry out the responsibilities as first directors of the corporation as set out in subsection (1).
62(4)A first director may waive notice of a meeting of first directors.
62(5)If there are more than two first directors, a majority of the directors shall constitute a quorum and an act of the majority of the quorum shall be deemed to be an act of the first directors.
62(6)A resolution in writing signed by each first director entitled to receive notice of a meeting of first directors shall be as valid as if it has been passed at a meeting of the first directors duly convened and held.
1983, c.15, s.10; 2023, c.2, s.45