The board of directors may hold regular or special meetings in or out of this state. Every company is required to hold 4 Board Meetings in a year.While a Small Company can hold only 2 Board meetings in a calendar year i.e. Utah Corporate Bylaws create the policies and procedures for your corporation. Our free, attorney-drafted templates can get you started. Every company shall hold its first board meeting within 30 days from the date of incorporation. Ensure compliance with essential guidelines. Board meetings are legally required forums where directors discuss important issues, guaranteeing openness and responsibility.