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Business Corporations Act Subsection 21310 Form 22

Business Corporations Act Subsection 21310 Form 22

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>> In Chapter 20, we look at corporations in more detail. Last chapter, chapter 19, we looked at the different types of business organizations. Generally, the corporation is a creature of statute. It's an artificial "person." It can have one or more shareholders. It can be natural persons or other businesses. Corporation substitutes itself for the shareholders and can access the court system. And it has constitutional guarantees of free speech, due process, and things like freedom from unreasonable search and seizure. Corporate personnel are responsible for the overall management of the company. That rests with, specifically, the board of directors who are elected by the shareholders. They make policy decisions and hire officers to run the corporation on a daily basis. The shareholders could sue a corporation and be sued by the corporation and bring suit for corporation in some instances. Shareholders, by nature, have limited liability. That&

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