N.Y. Banking Law § 4005: Organization meeting

§ 4005. Organization meeting. 1. After the corporate existence has

begun, an organization meeting of the incorporators shall be held within

this state, for the purpose of adopting by-laws and the transaction of

such other business relating to organization as may come before the

meeting. The meeting may be held at the call of any incorporator, who

shall give at least five days' notice thereof by mail to each other

incorporator, which notice shall set forth the time and place of the

meeting. Notice need not be given to any incorporator who attends the

meeting or submits a signed waiver of notice before or after the

meeting. A majority shall constitute a quorum and the act of the

majority of the incorporators present at a meeting at which a quorum is

present shall be the act of the incorporators.

2. Any action permitted to be taken at the organization meeting may be

taken without a meeting if each incorporator signs an instrument setting

forth the action so taken.

3. If an incorporator dies or is for any reason unable to act, action

may be taken as provided in such event in subdivision three of section

six thousand fifteen.