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How many board of directors are required for a stock corporation and if it had 2 bod and 2 stockholders but one died now stock is held by 4 people can bod still be only 2 people or do you need more?
Wiki User
∙ 18y ago
This is a matter of state law, so there may be literally 50 different answers to your question. However, a good place to start would the be website for the secretary of state or department of corporations for state. Shareholders elect the board of directors and interim appointments are usually discussed in the bylaws. Read the bylaws and you should find the answers to your questions.
Wiki User
∙ 18y ago
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Who are stockholders in a corporation?
Stockholders are people who have purchased (or have been granted) shares of equity in the ownership of the company.
What are some similarities between a corporation and a franchise?
they have two or more people such as stockholders.
What do partners gain in a corporation?
Partners own a company known as a partnership. A corporation is owned by stockholders. A partnership may decide to become a corporation, giving stock to each of the people who were previously partners. The advantage of this is that partners have a personal liability while stockholders do not.
Who runs a corporation?
Ultimately, a corporation is run by a board of directors. This group of people are usually experienced business people, and may or may not have a large vested interested in the corporation.
What is the difference between articles of corporation and bylaws?
The ByLaws of a Corporation are the documents that sets out the organization of the corporation, including the powers and election of directors and officers, filing vacancies, holding meetings of shareholders and directors, required notice periods, setting the fiscal year end and the execution of documents. and the Articles of Incorporation are the legal documents that establish your new corporation, and must be approved by your State Secretary of State, Corporations division before your new corporation do business under that business name.
What are the people who make the major policy and financial decisions for a corporation are called the what?
Board of directors
How is the head of the corporation?
IF ITS A BRAND NEW COMPANY BEING FORMED THAT IS USUALLY DECIDED FROM THE PEOPLE BRINGING MONEY TO THE TABLE FORMING THE BUSINESS. IF ITS AN EXISTING COMPANY COULD BE CHOSEN FROM THE STOCKHOLDERS OR THE EXISTING BOARD OF DIRECTORS OF SAID BUSINESS. SOME PEOPLE HAVE MORE SAY THAN OTHERS DEPENDING ON THEIR INVESTMENT AMOUNT...
How is the head of a corporation chosen?
IF ITS A BRAND NEW COMPANY BEING FORMED THAT IS USUALLY DECIDED FROM THE PEOPLE BRINGING MONEY TO THE TABLE FORMING THE BUSINESS. IF ITS AN EXISTING COMPANY COULD BE CHOSEN FROM THE STOCKHOLDERS OR THE EXISTING BOARD OF DIRECTORS OF SAID BUSINESS. SOME PEOPLE HAVE MORE SAY THAN OTHERS DEPENDING ON THEIR INVESTMENT AMOUNT...
Who is the owner of corporation?
The owners of a corporation are its stockholders. For a privately held corporation, this might be a small group of people who tightly hold the firm, or maybe a larger number of investors. For a publicly traded corporation, stock is bought and sold on the open market by thousands upon thousands of investors.
What is the minimum number of people required on a Board of Directors?
There is no standard minimum amount of people required to be on a Board of Directors. The average size of the Board of Directors is about 9 members for most companies.
Who elects for the leader of the executive branch?
That depends on the company or organization. IN a publicly held corporation, the CEO is generally selected by the Board of Directors, and the Board is generally elected by stockholders of the company. In a privately owned company, the CEO is selected by the owner(s) of the company. In governmental organizations, the selection process is defined in the law that constituted the organization. For the United States of America, the process is defined in the Constitution.
The group of people who own a corporation?
The shareholders own a corporation. This can range from a single shareholder in a closely held corporation to hundreds of thousands of shareholders in a publicly traded company. Stockholders may be individuals or what are called "institutional investors," such as mutual funds, retirement plans and insurance companies.There are a variety of types of shares that can be issued by a corporation, e.g., common and preferred, and within these shares there are different classes as well. Shares can be voting or non-voting, have dividends paid out to them or not. Although the rights attached to the shares may vary, all of the shares have one thing in common - they represent an ownership interest in the corporations.The daily operations of the corporation are overseen by the board of directors but there must be an annual meeting of the shareholders to elect the board, and often to ratify the actions taken by the board on their behalf. At this meeting the shareholders also have the opportunity to question the board as well as having the financials presented and explained to them.A corporation is owned by shareholders.
