The first meeting of every corporation shall be called by a notice signed by a majority of the incorporators named in the certificate of incorporation, designating the time, place and purpose of the meeting; and such notice shall, at least two weeks before the time of any such meeting, be published three times in some newspaper of the county where the corporation may be established or have its principal place of business, or said first meeting may be called without such publication of notice, if two days' notice be personally served on all the parties named in the certificate of incorporation, or if all the parties named in the certificate of incorporation shall, in writing, waive notice and fix a time and place of meeting, then no notice of publication whatever shall be required of such first meeting.

Until the directors are elected, the signers of the certificate of incorporation shall have the direction of the affairs and of the organization of the corporation, and may take such steps as are proper to obtain the necessary subscriptions to stock and to perfect the organization of the corporation.

After the first meeting of incorporators has been held and the directors have been elected, the directors should meet and appoint officers for the ensuing year, provide for the issuance of the capital stock, and transact such other business as may be necessary to complete the organization of the company.