Accumulated Earnings represent a company’s net profit after having distributed dividends to the stockholders. It is a term that is often used in accounting to determine how much net profits a company has left after having paid dividends. In...
llcs-corporations-partnerships
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Definition
The person designated by a business entity, such as a corporation, to receive legal correspondence on behalf of the business entity within the state which the agent's address is located. The person may be an officer of the corporation or a...
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Definition
Legal doctrine whereby the court finds a corporation lacks a separate identity from an individual or corporate shareholder, resulting in injustice to the corporation’s debtors. Finding alter ego gives the court cause to pierce the...
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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...
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Definition
Provision in a corporate charter that prevents the board of directors from making greenmail payments. Usually allows the buyback to occur with the approval of a majority of the non-controlling shareholders.
See alsoGreenmailArticle of... (Wex page)
An article is a legal rule that can be set out under a statute, a code, or a paragraph in a legal document. Articles usually refer to matters that have been agreed upon by the supervising authority. For example, in contracts, an article under...
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Definition
The highest governing document in a corporation. Also known as the corporate charter, it generally includes the purpose of the corporation, the type and number of shares, and the process of electing a board of directors. The articles of...
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The articles of organization are 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...
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1. An organization of people that is not incorporated. In general, an association is not a separate entity from the persons who compose it. However, some laws may require associations to pay taxes, particularly if they have certain features that...