BLAW 308 Lecture Notes - Lecture 9: Fiduciary, Double Taxation, Income Statement
Document Summary
Quiz on tuesday, you need a blue/green book, he prefers the little one. Only the corporation is liable for stuff and no one else. If you commit a tort as an officer you can be held liable. But they have limited liability if they do not commit a reckless of intentional corp. Board of directors manages it, elected by shareholders. Day to day ran by ceo/cfo/exec officers, appointed by board. To form a corporation you file the articles of incorporation with the secretary of state. If articles of incorporation say you can only issue 1000 shares, and you need more, you have to have the majority approval of the shareholders(unless the. You don"t want a special meetingyou should do it during the annual meeting of the shareholders, if you call a special meeting it costs extra money and the shareholders will be pissed.
