How to Establish a Board of Directors
Every corporate entity is run by a board of directors. Choosing the initial board to conduct business is the duty of the incorporators. Select the board of directors for your corporation with expertise and loyalty in mind.
Whether it is a non-profit or for-profit corporation, the profile of a model board member is the same. Look for someone who will govern the business with the good of the corporation in mind. Effective board members of non-profit corporations will promote the cause of that corporation. Successful for-profit board members, guide that business into money-making opportunities for its stockholders.
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Instructions
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Write a list of potential candidates. Assess who would be best suited to carry out the day-to-day operation of your corporation. Read job descriptions of the officers, in the corporation's bylaws. The officers of your corporation will come from the board you are establishing. Seek people who can fill the positions of president, secretary and treasurer. Your newly established board will vote who among them will fill these positions.
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Contact the candidates who seem best suited for your business. Ask them to submit resumes. Pay close attention to the documentation of their expertise and money management. Review their qualifications. Meet with fellow incorporators to discuss the candidates.
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Take a vote with the other incorporators to select the candidates for the board. Formalize the selection of the board by writing the names of the new appointees, along with the names of the incorporators, in the minutes of your meeting with incorporators. Notify the new board members as to their selection. Call a meeting to select the corporation officers. Tell the new board members the date, time and location for their first board meeting.
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Tips & Warnings
Look for directors who are team players and are goal oriented.
