§ 46-5-143 - Call of organizational meeting to elect directors; notice of meeting; voting by subscribers of capital stock; minimum number of Georgia residents as directors
O.C.G.A. 46-5-143 (2010)
46-5-143. Call of organizational meeting to elect directors; notice of meeting; voting by subscribers of capital stock; minimum number of Georgia residents as directors
As soon as possible after the capital stock has been fully subscribed, the commissioners shall call a meeting of the subscribers to the capital stock for the purpose of electing directors and transacting such other business as may come before the meeting. Notice of the meeting shall be given by depositing in the post office, properly addressed to each subscriber, at least ten days before the time fixed, a written or printed notice stating the object, time, and place of such meeting. In all elections for directors of the proposed corporation, each subscriber to the capital stock shall be entitled to one vote for each share of the capital stock subscribed for by him, which vote may be cast in person or by written proxy. At least three persons, two-thirds of whom shall be residents of Georgia, shall be elected as directors of the proposed corporation.