Section 52-4-5. Petitioners as constituting first board of directors; election of officers; prescription of rules and bylaws; opening books of subscription for capital stock

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The petitioners shall constitute the first board of directors; they shall organize by electing one of their number president and such other officers as may be necessary, prescribe rules and bylaws, and open books of subscription for the capital stock.

Ga. L. 1893, p. 81, § 2; Civil Code 1895, § 1988; Civil Code 1910, § 2369; Code 1933, § 17-104.

                    
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