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(a) As soon as practicable, but in any event, no later than 90 days following issuance of the certificate of incorporation, the initial meeting of the board of directors named in the articles of incorporation shall be held.

(b) The purpose of the initial meeting shall be:

(1) To adopt bylaws not inconsistent with this Code;

(2) To elect officers;

(3) To transact any business that may arise.

(c) Procedure.

(1) The directors calling the meeting shall give at least three days’ notice thereof by mail to each director required to attend.

(2) The notice shall state the time and place of meeting.

(3) Any action scheduled for the initial meeting may be taken without a meeting only if each director executes and signs an instrument which states, in detail, the action so taken. [Ord. 18 Part I § 9, adopted, 10/7/2008.]