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First Board of Directors Meeting

Agenda for the First Board Meeting of Your Corporation

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Question: What Must be Done at the First Board of Directors Meeting?

Answer:

The first meeting of the board of directors of your corporation (sometimes called an "organizational meeting") is an important meeting. Typically at this meeting, the Board of Directors will:

  • Acknowledge that the Articles of Incorporation have been filed (and approved, if that is the case) with the state in which you are incorporating.
  • Designate a specific bank as the official depository for corporate funds.
  • Elect corporate officers, usually a President, Vice President, Secretary, and Treasurer
  • Direct the Treasurer to pay organizational expenses
  • If your corporation is operating under a different name from the corporate name, authorize the use of the name under which the corporation is doing business (d/b/a or fictitious name)
  • Approve the corporate by-laws
  • Approve the conflict of interest policy and require all board members to sign the policy.
The board may have other specific business to discuss in addition to these typical organizational resolutions.

 

After the meeting, the Board Secretary should distribute the minutes of this meeting for approval, and after approved, place them in the corporate records book.

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