Unlocking Your Business Potential
What is widely held company and closely held company? A widely-held company is a “”company in which the public are substantially interested””. A closely-held company is just the opposite of a widely-held company. Hence, it can be said that a closely-held company is a company in which the public are not substantially interested. Read more … Read more
Legally, businesses are required to hold an annual meeting. It is a formal meeting of the company’s shareholders and board of directors where significant decisions are made, directors are elected, and the company’s performance is discussed. The absence of an annual meeting may have negative legal and financial repercussions for the corporation. A business could … Read more
How does a single member LLC record minutes? Read more on www.youtube.com As a single member LLC, it could appear superfluous to preserve minutes because there is only one participant in the business. However, for legal and financial reasons, keeping minutes is still essential. A meeting’s minutes, which serve as a written record of the … Read more
Does a Limited Liability Company have a board of directors? Limited Liability Companies (LLCs) are a fairly recent development and most experts consider them a “”hybrid”” of a partnership and a corporation. An LLC is not required to have a Board of Directors, but can adopt this form of management if the members (the owners … Read more
What is the difference between ordinary resolution and special resolution? Ordinary Resolution is one in which the general meeting requires a simple majority to move the resolution. Special resolution means a resolution that needs a clear majority to approve the resolution at the general meeting. Read more on www.legalwiz.in When a group of individuals gets … Read more
What is the procedure to change company name? After the name is approved, MGT-14 (necessary resolution for alteration of Memorandum of Association and Articles of Association (MOA and AOA) needs to be filed. 3. eForm INC-24 (Application for approval of Central Government for change of name) needs to be filed.to give effect to change in … Read more
What is a principal office of a company? A company’s principal place of business is the primary location where its business is performed. This is generally where the business’s books and records are kept and is often where the head of the firm and other senior management personnel are located. Read more on www.investopedia.com A … Read more
Can chairman and CEO be the same person? Can one person be the CEO and the chairman at the same time? Yes, a company’s chairman can also serve as its CEO. Having the same person in both roles can help speed up decision-making and establish a more clear corporate culture. Read more on in.indeed.com The … Read more
How many board members are required for an S Corp? three directors Recruit and/or appoint a director or directors for the corporation. Under California law, a corporation must have at least three directors, unless there are less than three shareholders. In that case, the number of directors may be equal to or greater than the … Read more
Does New Mexico require bylaws? Before you file your articles of organization, you’ll need to have bylaws that comply with New Mexico law. Your bylaws contain the rules and procedures your corporation will follow for holding meetings, electing officers and directors, and taking care of other corporate formalities required in New Mexico. Read more on … Read more