ARTICLE 1 The exact name of the corporation is : BAGBLOCKERS,INC. ARTICLE 11 Unless the articles of organization other provide, all corporations formed pursuant to G.L. C156D have The purpose of engaging in any lawful business. Please specify if you want a more Limited purpose: THE CORPORATION MAY ENGAGE
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companies may use in their operations towards achieving the optimal governance framework. These structures and processes exist at a micro-level which include issues such as the composition of the board, procedures for recruiting new directors, remuneration of directors, the use of board committees, their mandates and their activities. 1.4 The significance of the Code is that it allows for a more constructive and flexible response to raise standards in corporate governance as opposed to the more
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Directors are the people trusted with the running of the organisation. They are expected to guide the company in the right direction both legally and financially. Being the trustees, directors are exposed to liabilities as a consequence of a breach of their duties. The liabilities of directors is stated under different laws in the Indian Constitution. Different laws and acts provide the frame work for under which directors need to act and failing which they are liable for it. Whenever any company
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COMPANY LAW – Part 1 By Carl T. Abruquah Introduction The company is a form of business organization that involves a greater number of owners than a sole proprietorship or a partnership. It is a form that has arisen to meet the exigencies, complexity and rapidly expanding dimensions of business. It is a convenient form of business organizations in the sense that it enables investors to contribute to the capital of the organization without taking active part in its management. The rules
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P 1.05 Separate legal entity Limited liability Perpetual succession Under Corporations Act 2001 “Upon registration, a company becomes a separate and distinct entity from its members / shareholders, directors and officers. A company can sue and be sued in its own name. The property of the company does not belong to its members, but to the company alone. A company exists in perpetuity until it is deregistered. Type A: Limited Liability Company
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Corporate Governance Apple’s Board of Directors 07 May 2013 Introduction As we all know, the competition in IT industry is extremely intensive. Tremendous amount of companies are providing customers various electronic products with different features. However, Apple is the most popular and amazing company on the earth, brought us the most delicate, fancy, high-end electronic devices and software just like from future. It is the kind of company, who totally blew people’s mind and change people’s
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Appointment of secretary People that are sole directors cannot be secretary and these people must be registered under section 201 of the said Act. This law seems to be applicable all over Abott, Pendlebury and Wardman (2004), quotes of S.283 which states that every company must have secretary, but a sole director cannot also be the secretary. It is usual for the secretary to be appointed by the directors on such terms as they think fit. The directors may also remove the secretary. The rules relate
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fiduciary duty by the directors in connection with a program of radio advertising. In the second, they alleged a breach of fiduciary duty relating to payments made to a corporate vice-president and director. However, the court did not fine these to be so therefore dismisses the action. Joan can not bring against board for breach of contract as a shareholder but breach of contract violation nor fiduciary duties. The fiduciary must subordinate his individual and private interests to his duty to the
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shareholders and many times this is not codified in a specific legal right (Velasco, 2006, p. 409). More often these rights need to be specified in the corporation’s incorporation documents or bylaws. Velasco (2006) describes the right to vote and elect directors and the right to sell stock as the “fundamental rights of the shareholder.” Additionally shareholders have financial rights as well which must be spelled out within the corporation’s bylaws. In a modern, publically traded corporation, it is impossible
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Abstract [Extract] Corporate Social Responsibility (CSR) is associated with the conduct of corporations and in particular whether corporations owe a duty to stakeholders other than shareholders. Whilst the phrase ‘Corporate Social Responsibility’ may be gaining momentum, the concept itself is not new. The question as to whether corporations owe duties to broader stakeholders has been debated at various times throughout the twentieth century. Keywords corporate social responsibility, corporations
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