Massachusetts Waiver of 1st Meeting of Board of Directors - Corporate Resolutions

• Category: Corporations - Minutes and Resolutions - Notices and Waivers
• State: Multi-State
• Control #: US-0018-CR
• Format: Word; Rich Text

Description

Form with which the Directors of a corporation waive the necessity of a first meeting of directors.

A Massachusetts Waiver of 1st Meeting of Board of Directors is a legally binding document that allows a corporation to waive the requirement of holding an initial board meeting after incorporation. This waiver is often used when the corporation is formed by a sole incorporated or a small group of incorporates who are also the initial board members. Key elements of the Massachusetts Waiver of 1st Meeting of Board of Directors include: 1. Title: The document should be titled "Massachusetts Waiver of 1st Meeting of Board of Directors — Corporate Resolutions" to clearly indicate its purpose. 2. Parties: The waiver should identify the corporation's name and address, as well as the names and addresses of all the incorporates and initial board members who are waiving the first board meeting. 3. Incorporeal Action: The waiver should state that the incorporates and initial board members have agreed to take an "incorporeal action" instead of conducting a physical board meeting. An incorporeal action refers to a decision made outside a formal meeting. 4. Waiver of Notice: The waiver should explicitly state that all parties have waived any notice requirements that would typically apply for board meetings as specified in the corporation's bylaws or Articles of Incorporation. 5. Unanimous Consent: The waiver should confirm that all incorporates and initial board members have provided their unanimous written consent to the waiver and all related actions. 6. Adoption of Resolutions: The waiver may include a section for the adoption of necessary resolutions, such as the establishment of bylaws, appointment of officers, and any other actions required during an initial board meeting. 7. Effective Date: The waiver should state the effective date on which the waiver and related resolutions become operative and binding. Different types of Massachusetts Waiver of 1st Meeting of Board of Directors may vary based on the specific requirements of the corporation or the preferences of the incorporates. However, the basic purpose and elements remain the same, allowing the corporation to forgo the initial board meeting in favor of an incorporeal action agreed upon by all parties involved.