Nevis Business Corporation Ordinance 1984 - Intax Info

26. The articles of incorporation may confer upon the holders of any bonds, debentures, or other
obligations issued rights of or to be issued by the corporation, whether secured by mortgage or otherwise or
unsecured, any one or more of the following powers and rights:
(i)
(ii)
(iii)
The power to vote on the election of directors, or other matters specified in the
articles;
The right of inspection of books of account, minutes, and other corporate records;
Any other rights to information concerning the financial condition of the corporation
which its shareholders have or may have.
Execution and filing of articles of incorporation.
27. Articles of incorporation shall be signed and acknowledged by each incorporator and filed with the
Registrar of Companies in conformity with the provisions of Part I of this Ordinance.
Effect of filing articles of incorporation
28. The corporate existence shall, upon filing the articles of incorporation, be effective as of the filing date
stated thereon. The endorsement by the Registrar of Companies, as required by section 4 of Part 1, shall be
conclusive evidence that all conditions precedent required to be performed by the incorporators have been
complied with and that the corporation has been incorporated under this Ordinance.
Organization meeting
29.(1) Within a reasonable time after the filing of the articles of incorporation, an organization meeting shall
be held either within or without Nevis. The said organization meeting shall be held, in person or by proxy, by
the initial directors named in the articles of incorporation or by the incorporator or incorporators or their
transferees pursuant to subsection (2) hereof. The purpose of the meeting shall be to adopt bylaws, transact such
business as may come before the meeting, do such acts to perfect the organization of the corporation as are
deemed appropriate and, if the initial directors are not named in the articles of incorporation, elect directors to
serve or hold office until the first annual meeting of shareholders or until their successors are elected and
qualify.
(2) If the articles of incorporation state that the incorporators have subscribed for stock, such subscriptions
may be transferred prior to the organization meeting of directors and such transferees may hold the organization
meeting of incorporators.
(3) Any action permitted to be taken at the organization meeting may be taken without a meeting if each
incorporator, transferee or director signs an instrument setting forth the action so taken.
Bylaws.
30.(1) Every corporation formed under this Ordinance shall have bylaws.
(2) The initial bylaws of a corporation may be adopted by its board of directors. Except as otherwise
provided in the articles of incorporation, bylaws may be amended, repealed or adopted by vote of the
shareholders. If so provided in the articles of incorporation or a bylaw adopted by the shareholders, bylaws may
also be amended, repealed or adopted by the board of directors, but any bylaw adopted by the directors may be
amended or repealed by shareholders entitled to vote thereon.
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