RCW 31.24.130
First meeting—Notice—Duties of incorporators.
(1) The first meeting of a business development company shall be called by a notice signed by three or more of the incorporators, stating the time, place, and purpose of the meeting, a copy of which notice shall be mailed, or delivered, to each incorporator at least five days before the day appointed for the meeting. The first meeting may be held without such notice upon agreement in writing to that effect signed by all the incorporators. A copy of the notice or unanimous agreement of the incorporators shall be recorded in the minutes of the first meeting.
(2) At the first meeting, the incorporators shall, consistent with Title 23B RCW:
(a) Choose a temporary recording secretary;
(b) Adopt bylaws;
(c) Elect directors; and
(d) Engage in other business within the powers of the business development company as the incorporators present may see fit.
(3) Upon being sworn in at the first meeting, the temporary recording secretary shall make and attest a record of the proceedings.
(4) At least five of the incorporators shall constitute a quorum for the transaction of business at a first meeting.
[ 2006 c 87 § 16; 1963 c 162 § 13.]
Structure Revised Code of Washington
Title 31 - Miscellaneous Loan Agencies
Chapter 31.24 - Industrial Development Corporations.
31.24.005 - Findings—Declarations—Intent.
31.24.020 - Application—Contents—Articles of incorporation—Fees—Initial capital—Approval.
31.24.023 - Filing articles of incorporation—Receipt of certificate of authority.
31.24.025 - Fees—Director's discretion.
31.24.066 - Plan of assessment—Purpose—Requirements—Approval.
31.24.070 - Powers of stockholders—Voting rights—Proxy voting—Plan of assessment—Dividends—Rules.
31.24.073 - Aggregate limit on loans and investments—Single borrower or business.
31.24.075 - Insider transactions.
31.24.080 - Amendment of articles of incorporation—Director's approval—Filing.
31.24.090 - Board of directors—Officers and agents—Powers—Election—Meetings.
31.24.100 - Minimum capital, surplus, undivided profits, and net earnings.
31.24.110 - No receipt of money on deposit.
31.24.120 - Examinations by director of financial institutions—Reports—Authority of director.
31.24.130 - First meeting—Notice—Duties of incorporators.
31.24.140 - Duration of business development company.
31.24.150 - Dissolution—Method—Distribution of assets.
31.24.160 - Credit of state not pledged.
31.24.170 - Business development companies designated state development companies.
31.24.200 - Insolvency and liquidation—Chapter 30.44 RCW.
31.24.205 - Supervisory direction and conservatorship.
31.24.210 - Mergers or consolidations—Application—Approval.
31.24.220 - Confidentiality and disclosure—Examinations.