DGCL Sec. 107 - Powers of Incorporators
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Corporations can not incorporate themselves. The parties who incorporate a business are known as “incorporators” or “promoters”. An incorporator need not be a person. An incorporator may also be another corporation.
Typically, the promoter names the initial board of directors of the corporation immediately as part of the incorporation process, but if not, the incorporator has plenary power to manage the corporation until such time as the initial board of directors is appointed.
EDIT ANNOTATED ITEM INFORMATION DELETE ANNOTATED ITEM
1
TITLE 8
2Corporations
3CHAPTER 1. GENERAL CORPORATION LAW
4Subchapter I. Formation
5§ 107. Powers of incorporators.
6If the persons who are to serve as directors until the first annual meeting of stockholders have not been named in the certificate of incorporation, the incorporator or incorporators, until the directors are elected, shall manage the affairs of the corporation and may do whatever is necessary and proper to perfect the organization of the corporation, including the adoption of the original bylaws of the corporation and the election of directors.
78 Del. C. 1953, § 107; 56 Del. Laws, c. 50.;
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May 22, 2017
DGCL Sec. 107 - Powers of Incorporators
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Brian JM Quinn
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