accumulated earnings
Accumulated earnings represent a company’s net profit after having distributed dividends to the stockholders. It is often used in accounting to determine how much net profits a company has left after having paid dividends.
wex
llcs-corporations-partnerships
agent for acceptance of service
See: agent for service of process
[Last reviewed in March of 2022 by the Wex Definitions Team]
wex
agent for service of process
An agent for service of process is the person designated by a business entity, such as a corporation or limited liability company (LLC), to receive legal documents and lawsuits on behalf of the business entity within
wex
alter ego
Alter ego is a legal doctrine whereby the court finds that a corporation lacks a separate identity from an individual or corporate shareholder. The court applies this rule to ignore the corporate status of a group of stockholders, officers, and directors of a corporation with respect to their limited liability.
wex
annual meeting
Annual meeting refers to the shareholders' general meeting held yearly on the date or according to the formula by which such a meeting date will be fixed, as prescribed in the corporation's bylaws. The purpose of the annual meeting is for shareholders to elect the directors.
anti-greenmail provision
An anti-greenmail provision is a provision within a corporate charter that prevents the company’s board of directors from making greenmail payments.
wex
articles of incorporation
The articles of incorporation is the highest governing document in a corporation. It is also known known as the corporate charter.
wex
articles of organization
The articles of organization is a public and official document used to create a limited liability company (LLC). The LLC members must file the articles of organization before the relevant state authority (usually the Secretary of State) for approval. Upon approval of the articles of organization, the LLC will become an official separate legal and business entity.
wex
association
An association is an unincorporated organization of people banded together for a specific purpose.
wex