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Action by Incorporator


Overview
- After a new company has been incorporated, the Action by Incorporator is completed to "hand off" the remaining organization chores to the directors and officers.
- The incorporators elect the first board of directors of the new corporation.  After the new board of directors is elected, the incorporator's job is essentially completed.  The board of directors will then take the remaining actions needed to start up the new corporation, such as approving bylaws, electing officers, and issuing stock.  
- In new, small corporations, the directors usually take these initial steps through unanimous written consent, instead of holding a formal meeting.  The application provides a Unanimous Written Consent of Board of Directors In Lieu Of First Meeting for this purpose.
- This form also states that each incorporator waives any claim against the corporation for stock or property as compensation for incorporator duties.  While the incorporators normally do not receive any compensation for these limited administrative duties, it is best to make sure that each incorporator formally acknowledges that he or she is not expecting compensation in the form of stock or property of the corporation.

When You Need It
- Used by an Incorporator of a new corporation to take steps necessary to begin the organization of a new corporation.


Getting Started

You will need:
- Name of each incorporator.
- Name of the corporation.
- Name of each director of the corporation.

When to Review and Revise 
- To correct the information contained in the document. 
- To draft another Action by Incorporator.