corporate officers

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Corporate officers colloquially refers to the people in a corporation that run the company’s daily operations. The corporate officers are chosen by the board of directors. The exact number and roles of the corporate officers vary based on state law and the company’s articles of incorporation, but generally there is a president (or chief executive officer), a vice president, a treasurer and a secretary.

Additionally, the corporate officers have a plethora of different rules and obligations related to the company. Again, these duties will depend on any applicable state or federal law, case law. For instance, corporate officers are generally considered fiduciaries. In short, this means there are three main duties that corporate officers take on: a duty of care, duty of loyalty, and duty of good faith

See e.g.: Perry Ex Rel. Perry v. Frederick Inv. Corp., 509 F. Supp. 2d 11 (D.D.C. 2007) Lloyd v. Moore 115 A.D.3d 1309 (2014)

[Last updated in August of 2022 by the Wex Definitions Team