New Brunswick Bar Practice Exam 2025 – Complete Test Prep Resource

Incorporators are the individuals who take the initial steps to create a corporation, including filing the articles of incorporation. They play a crucial role in the establishment of the corporation and typically serve as the first directors until a formal election is held by the shareholders. This means that they hold the position of directors at the very inception of the corporation, guiding early decision-making and ensuring that the corporation is set up in accordance with legal requirements.

Once the corporation is officially formed and operational, the shareholders will subsequently elect the board of directors. However, until that election occurs, the incorporators serve as the primary governing body. This underlines their significance in the corporate structure and the formation process, which is why they are recognized as the first directors.

The other options mention either the shareholders, previous directors, or specifics in the articles of incorporation, all of which pertain to governance after the initial establishment of the corporation rather than during its founding phase.