Another asker who can't control his pronouns. Why would I want to be trustee of your corporation or of you? Corporations do not have trustees. If the corporation files for bankruptcy protection, you cannot be the trustee. Similarly, you cannot be your corporation. A corporation is a separate legal entity. You may be the only officer and shareholder, which can cause you some tax and liability problems, but you are not the corporation.
A corporate trustee is exactly what the term implies: A trustee that is a corporation rather than a person. Although it will vary from state to state depending on that state's laws, a trustee may be any type of recognized legal entity such as a person or corporation. Sometimes corporations such as banks are made trustees of large trusts to take advantage of their expertise in investing and handling assets. Such a trustee will be referred to as a corporate trustee.
Typically most states will not allow a minor to open or own a corporation because a minor cannot legally enter into contracts. It may be possible for a minor to own a corporation if it is held and managed by a trustee.
A corporation can own itself. There can be just one owner or there can may owners of the corporation.
First, a trustee is the trustee of a TRUST. The house may be trust property. The powers of a trustee are set forth in the trust document. If the house is owned by the trust and the trustee has the power to sell real estate then yes, a trustee can convey the house.
Trustee
If you have unpaid wages, then you need to attend the meeting of creditors as stipulated by the trustee.
People that own shares of the corporation.
The trustee for Atlanticus Holdings at US Bank is U.S. Bank National Association. This is confirmed by an indenture dated November 22, 2021, between Atlanticus Holdings Corporation and U.S. Bank National Association, where U.S. Bank is designated as the trustee
You need to review the terms of the particular trust in order to determine what the trustee can and cannot do. A trustee has only the powers set forth in the trust document. Generally, a trustee should bot take money from the trust for his/her own use.You need to review the terms of the particular trust in order to determine what the trustee can and cannot do. A trustee has only the powers set forth in the trust document. Generally, a trustee should bot take money from the trust for his/her own use.You need to review the terms of the particular trust in order to determine what the trustee can and cannot do. A trustee has only the powers set forth in the trust document. Generally, a trustee should bot take money from the trust for his/her own use.You need to review the terms of the particular trust in order to determine what the trustee can and cannot do. A trustee has only the powers set forth in the trust document. Generally, a trustee should bot take money from the trust for his/her own use.
Usually. There may be some obscure exceptions, but in the main, a corporation can select as they will for their board.
no they are they are own corporation.
Of course they do. The beneficiaries are entitled to an annual accounting and they should monitor the trustee closely. A trustee has sweeping powers over the trust property and it is easy for a dishonest trustee to convert that property to their own use. Every state has laws that govern trustees. Any trustee who resists providing a record of their actions to the beneficiaries should be brought to court. The court can compel the trustee to file an account and the court can remove the trustee if they fail to act responsibly.Of course they do. The beneficiaries are entitled to an annual accounting and they should monitor the trustee closely. A trustee has sweeping powers over the trust property and it is easy for a dishonest trustee to convert that property to their own use. Every state has laws that govern trustees. Any trustee who resists providing a record of their actions to the beneficiaries should be brought to court. The court can compel the trustee to file an account and the court can remove the trustee if they fail to act responsibly.Of course they do. The beneficiaries are entitled to an annual accounting and they should monitor the trustee closely. A trustee has sweeping powers over the trust property and it is easy for a dishonest trustee to convert that property to their own use. Every state has laws that govern trustees. Any trustee who resists providing a record of their actions to the beneficiaries should be brought to court. The court can compel the trustee to file an account and the court can remove the trustee if they fail to act responsibly.Of course they do. The beneficiaries are entitled to an annual accounting and they should monitor the trustee closely. A trustee has sweeping powers over the trust property and it is easy for a dishonest trustee to convert that property to their own use. Every state has laws that govern trustees. Any trustee who resists providing a record of their actions to the beneficiaries should be brought to court. The court can compel the trustee to file an account and the court can remove the trustee if they fail to act responsibly.