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How is a corporation organized?
A Corporation is owned by shareholders who elect directors, who appoint officers.
Who has control in an s corporation?
The shareholders hjave the ultimate power and the officers operate the corporation.
How does a personal bankruptcy of one of the officers affect a corporation?
Not at all.
When an S-Corporation dissolves can the officers be held liable for its debt?
A s-corp is a designation assigned by filing special forms with the IRS. Its a corporation, taxed like a partnership. Thus no liability for officers.
When an S Corporation dissolves can the officers be held liable for its debt?
A s-corp is a designation assigned by filing special forms with the IRS. Its a corporation, taxed like a partnership. Thus no liability for officers.
What is a corperation.?
A lawyer that works for a corporation. Their client is the company and sometimes the officers of the company.
Which best describes the types of agency authority held by officers of a corporation?
It is implied
Can non attorney officer of corporation file an answer on behalf of corporation?
Yes. The "officers" of a corporate entity are authorized to 'speak' for the corportation whether they are an attorney or not.
What is a corperate lawyer?
A group of attorneys either employed or retained by a corporation.
Who runs the day to day operation of a corporation?
The Officers (IE - CEO, CIO...etc...)
What positions are considered executive officers of a corporation?
which postion is higher either executive or officer
What is a domestic profit corporation?
A domestic profit corporation is one that aims to generate profits for it's shareholders more so than it's directors or officers. Shareholders have control by electing the directors and officers who run the business day to day.
