0
What else can I help you with?
Does an LLC need a board of directors to operate effectively?
No, an LLC does not need a board of directors to operate effectively. Instead, an LLC is managed by its members or designated managers.
Who enforces bylaws?
The Board of Directors. Even if it's a shareholding corporation, the shareholders operate through the Board.
Is starting a corporation is very difficult?
It can be very difficult if you do not have the skills, nor the motivation and resources required to operate them.
How do you form a corporation and what are the necessary steps involved?
Forming a corporation involves several key steps. First, you need to choose a unique name for your corporation and check its availability. Next, you must file articles of incorporation with the state and pay the required fees. You will also need to create corporate bylaws, appoint directors, and issue stock. Finally, you must obtain any necessary licenses and permits to operate legally.
How would you close a corporation?
Closed corporations, not permitted by statute in all states, limit shareholders to fifty. They permit the firm to operate informally either by eliminating the board of directors or curtailing its authority.
Do Condominium associations have to have A Board of directors?
Yes, many (and maybe all) condominium associations have boards of directors. This style of real estate ownership -- an association -- is a business. The business is properly registered with the Secretary of State (the location of the community) as a corporation, usually a non-profit. Business require boards of directors in order to operate the business of the association.
Is Donald trump the owner of McDonald's?
No, he is not. McDonald's is a global corporation, with a CEO, a board of directors, and shareholders. There are also individual owners who operate franchises in a number of cities. The current CEO of the McDonald's Corporation is Andrew James McKenna.
How would you describe a closed corporation?
Closed corporations, not permitted by statute in all states, limit shareholders to fifty. They permit the firm to operate informally either by eliminating the board of directors or curtailing its authority.
Who protects the stockholders' interests?
The stockholders, who are the owners of a corporation, are served by the board of directors of that corporation. The owners of the corporation (the stockholders) have installed the board members to run the corporation and they, the stockholders, expect the board to operate the corporation in a way that is profitable. Profits are returned to the stockholders in the form of dividends, and the stockholders profits are a direct function of the number of shares each one holds. The shareholders pay the board members large sums of money (and include generous compensation packages, including stock options) for their efforts. The stockholders have a reasonable expectation that the board members will do their best to run the corporation smoothly and will make money, so a corporation's board of directors is tasked with looking out for the interests of the stockholders, who are the owners of the corporation.
Who has control in an s corporation?
The shareholders hjave the ultimate power and the officers operate the corporation.
Can a corporation operate without a bank account?
No definitely not.
What type of microphones require phantom power to operate effectively?
Condenser microphones require phantom power to operate effectively.
