| Commentary

54 The first board meeting

| Commentary

54 The first board meeting

Once the shelf company documentation has been received, the new board of directors will need to make some important preliminary decisions. To do this, the board will usually convene its first board meeting1.

One of the first tasks for the board is to get itself up and running. This may involve the appointment of a chairman2 and possibly the appointment of additional directors3. Depending upon the particular circumstances of the company, the board may proceed to approve service agreements for one or more of the directors4. In most cases, a copy of any director’s service agreement

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to LexisLibrary or register for a free trial