First board Sample Clauses
The "First board" clause establishes the initial composition and appointment process for the company's board of directors at the time of incorporation or after a significant corporate event. Typically, it specifies who will serve as the first directors, how they are chosen, and the duration of their initial terms. For example, it may name specific individuals or outline the rights of certain shareholders to appoint directors. This clause ensures a clear and agreed-upon governance structure from the outset, preventing disputes over board control and providing stability during the company's formative period.
First board. The initial board of directors of the municipal gas agency, unless otherwise provided by the agency agreement, shall be elected prior to the filing of the agreement by a majority vote of the persons acting as representatives of the member cities, from among their members. After commencement of existence, the first meeting of the board of directors shall be held at the call of the directors, after notice, for the purpose of adopting the initial bylaws, electing officers, and for any other business that comes before the meeting.
First board. The initial board of directors of the municipal power agency, unless otherwise provided by the agency agreement, shall be elected prior to the filing of the agreement by a majority vote of the persons acting as representatives of the members, from among their members. After commencement of existence, the first meeting of the board of directors shall be held at the call of the directors, after notice, for the purpose of adopting the initial bylaws, electing officers, and for any other business that comes before the meeting.
First board. The First Board shall be made up of the current President, Vice President, Secretary and Treasurer of the South Dakota Association of Towns and Townships; thereafter the President shall appoint at least three (3) individuals to serve as the remainder of the first Board until the first regular election.