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What is a Professional Service LLC? A Professional LLC (PLLC) is a type of Limited Liability Company formed for the purpose of providing professional services. Professional services are those where a person is licensed by the state for the service they provide. In most states, all members of a PLLC are required to be licensed. … Read more
What are the rights of a foreign corporation? Consequently, duly-registered foreign corporations are treated as artificial beings possessed of all rights, benefits and privileges appurtenant to being a corporate citizen, such as the capacity to sue and be sued, and/or invoke the protection of Philippine laws in all their business and commercial dealings. Read more … Read more
What is involuntary dissolution of an Illinois corporation? Involuntary Dissolution. Illinois corporations may be dissolved involuntarily by a court order as a result of a lawsuit by creditors, or by the Illinois Secretary of State for failure to file an annual report or pay annual fees. Alternatively, corporations may be dissolved voluntarily by shareholder consent. … Read more
How do I dissolve a Nevada corporation? How do you dissolve a Nevada corporation? To dissolve your domestic corporation in Nevada, you submit the completed Certificate of Dissolution and Customer Order Instructions forms to the Secretary of State by mail, fax, email or in person, along with the filing fee. Read more on www.northwestregisteredagent.com There … Read more
Can you be a shareholder and not an owner? A shareholder is any person, company, or institution that owns shares in a company’s stock. A company shareholder can hold as little as one share. Shareholders are subject to capital gains (or losses) and/or dividend payments as residual claimants on a firm’s profits. Read more on … Read more
What is a registered agent in Nevada? Nevada registered agents accept service of process and official mail on behalf of a Nevada business and forward those legal documents to that business. A Nevada business entity may act as its own registered agent by appointing an office or position responsible for that duty. Read more on … Read more
What are executed bylaws? The bylaws are executed by the original Board of Directors, and can be amended or modified if a sufficient percentage of directors or, in some cases, shareholders, vote in favor of the change. Read more on apexlg.com The guidelines that control a corporation’s or organization’s internal operations are known as bylaws. … Read more
Can a dissolved corporation enter into a contract? If a person enters into contracts or conducts other business in the name of a dissolved corporation then that person can be held personally liable for those contracts and business obligations. Read more on www.jimersonfirm.com Dissolution of a corporation signifies the end of the corporation’s status as … Read more
Are articles of incorporation the same as a constitution? The Articles of Incorporation are like the constitution of the corporation that provides a broad framework for its establishment, whereas the bylaws can be likened to the individual laws that must be consistent with the Articles of Incorporation. Read more on www.upcounsel.com When discussing the formation … Read more
On what grounds tribunal can pass order about compulsory winding up? In case the company does not pay the debts, the debt of the creditor exceeding Rs 1 lakhs is due and unpaid by the company within 21 days from the due date, or any execution decree is passed in favour of the creditor or … Read more