llcs-corporations-partnerships

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Definition

Net profits of a company that are not distributed as shareholder dividends. Accumulated earnings are often reinvested into the company itself.

See alsoDividendProfit
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Definition

See: Agent for service of process

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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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Definition

An annual meeting of the shareholders of a corporation, at a time and place determined by the corporation's bylaws. Also known as the "annual general meeting" (AGM). Shareholders meet to elect directors whose seats on the board are up for re-...

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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...
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Definition

A paragraph or section of a legal document or statute.

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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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Definition

Document required to be filed with a designated official, usually the Secretary of State, to legally register a Limited Liability Company (LLC). Since LLCs are governed by state law, the information required to be in the Articles of...

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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...

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