Waiver of Notice for First Board of Directors Meeting Template
How to use a waiver of notice for first board of directors meeting
A waiver of notice for a first board of directors meeting is needed because when starting your new corporation, you probably won’t have time to go through the official hoops of properly notifying all directors of your intent to hold a meeting.
A waiver of notice is the document basically asking all directors to sign the waiver saying they are ok with not having notice of a meeting. Typically if a director wants to hold a meeting, the director gives the other directors a week notice, 2 weeks notice, or a month notice. When getting a new corporation going, you don’t have this kind of time. The incorporator gets the shareholders and directors the filed articles, and the directors hold a meeting to ratify and approve everything. If directors sign documents without signing a waiver of notice they could come back later and say they were forced into signing something and they didn’t have proper time to review the documents or make their decision.
A waiver of notice for a first meeting of a board of directors is a document that protects all the board of directors.