Conflicts of Interest* It is not unusual for corporate shareholders or directors to have a personal interest in business decisions that affect the company they own or manage. For example, directors usually vote on setting their own compensation and that of the officers, which, in many small and closely held corporations, include themselves. This is […]
“Insider” Loans: What You Should Know
Corporate Resolutions: A Brief Introduction
Need for resolutions Generally, directors or shareholders need not adopt a formal corporate resolution in order to bind the corporation or otherwise confer authority to bind the corporation. Still, resolutions have their place and importance. Formally adopting and recording a resolution in the company minutes should reduce or eliminate misunderstandings among directors and shareholders, the […]
Corporate Minutes: Your Official Duty
As a company officer or director you may be obligated to call, notice and hold certain formal meetings. Especially if you are a corporate Secretary or President, it may very well be a duty. Look at your corporation’s bylaws to find the requirements for annual, regular and special meetings of the shareholders and of the […]