Corporations
How many family members can be on the board of a corporation?
This is a church. The founder is the Pastor, it's been Inc since 1969. How many family members are allowed to sit on the Trustee Board?
Is there a form provision for 'dissolution' of the corporation and how shares are handled?
For Bylaws for a corporation (for profit) is there a form provision for 'dissolution' of the entity and then how shares are handled? As well as authorizing new shares for new partners (process for same)?
I need to dissolved my S Corp but have outstanding debt
I need to shut down my S Corp. There is only one other shareholder and he is in agreement. The company has around 300k in outstanding debt and we are no longer generating income. What is the best way to protect ourselves from litigation in regards to these debtors? Dissolve the Corp? Chapter 11? Chapter 7? Personal Chapter 7?
Can a president of a corporation remove the treasurer if he is on the board and has equal stock?
Can the president of a corporation remove or fire the treasurer or secretary if all are on the board of directors and have equal amounts of stock?
Could a parent company be bound to a contract because a subsidiary is?
If a wholly owned subsidiary signed an exclusive teaming agreement with another company, does this exclusivity also bind the parent company?