Permanent and formal records of business conducted and resolutions adopted at a meeting of the board of directors or shareholders. Once accepted at the next meeting, the minutes become an official representation of the previous meeting and...
llcs-corporations-partnerships
(Wex page)
Definition
An option contract entered into where the seller does not actually own the underlying stock. When the buyer exercises the option, the seller must purchase the shares and sell them under the terms of the option contract. Also known as an "...
(Wex page)
Definition
Stock with no set value assigned to it in the corporate charter. No-par stock has become the most common type of stock issued by corporations and presents tax advantages, since most states tax based on par value.
See alsoPar valuePar-value... (Wex page)
Definition
Corporation chartered under the laws of a country other than the United States. Offshore corporations often do not engage in active business in the country in which they are incorporated. Some advantages companies attain from incorporating...
(Wex page)
Definition
Governing contract adopted by members of a Limited Liability Company (LLC). It may be used to regulate nearly all aspects of the LLC's affairs, including how the business is managed, how assets are used and how revenues are shared. An...
(Wex page)
Definition
Dollar value a corporation assigns to a stock. Par value is noted in the stock certificate and is the amount a purchaser pays for the stock.
See alsoPar-value stockNo-par stock
(Wex page)
Definition
Stock that confers the holder a right to be paid first, before common (non-preferred) stockholders in the event of a dividend or liquidation payout, and additionally the right to also participate along with the common stockholders in...