§ 404. Organization meeting.

(a) After the corporate existence has begun, an organization meeting
of the incorporator or incorporators shall be held within or without
this state, for the purpose of adopting by-laws, electing directors to
hold office until the first annual meeting of shareholders, except as
authorized under section 704 (Classification of directors), and the
transaction of such other business as may come before the meeting. If
there are two or more incorporators, the meeting may be held at the call
of any incorporator, who shall give at least five days' notice thereof
by mail to each other incorporator, which notice shall set forth the
time and place of the meeting. Notice need not be given to any
incorporator who attends the meeting or submits a signed waiver of
notice before or after the meeting. If there are more than two
incorporators, a majority shall constitute a quorum and the act of the
majority of the incorporators present at a meeting at which a quorum is
present shall be the act of the incorporators. An incorporator may act
in person or by proxy signed by the incorporator or his
attorney-in-fact.

(b) Any action permitted to be taken at the organization meeting may
be taken without a meeting if each incorporator or his attorney-in-fact
signs an instrument setting forth the action so taken.

(c) If an incorporator dies or is for any reason unable to act, action
may be taken as provided in such event in paragraph (c) of section 615
(Written consent of shareholders, subscribers or incorporators without a
meeting).