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Corporation Structure and Capital Overview

The document outlines the structure and governance of a corporation, detailing the roles of stockholders, incorporators, directors, and trustees. It specifies the requirements for independent directors and the definitions of authorized, subscribed, paid-up, and outstanding capital. Additionally, it emphasizes that issuing stocks below par value and using promissory notes as unsatisfied obligations are not allowed.

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9 views1 page

Corporation Structure and Capital Overview

The document outlines the structure and governance of a corporation, detailing the roles of stockholders, incorporators, directors, and trustees. It specifies the requirements for independent directors and the definitions of authorized, subscribed, paid-up, and outstanding capital. Additionally, it emphasizes that issuing stocks below par value and using promissory notes as unsatisfied obligations are not allowed.

Uploaded by

pk2fmhfhdh
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

CORPORATION

CORPORATUR) -

Stockholder
[ INCORPORATORS figual founder ; not more than 15
-

DIRECTULS -governing board in stock Cup; 5 - 15


[MTRUSTEES -givening board in non stock , > /5
INDEPENDENT DIR -

for corp. rested in


public interest composing at least 202 of the board
.

note :
AUTHORIZED CAPITAL -

maximum
amount

SUBSCRIBED CAPITAL STOCK -

prmised
to be paid for
PAID-UP CAPITAL -

already issued
& paid
OUTSTANDING CS - total shares issued
ind not fully
-

paid
stocks issued below par/issue price = NOT ALLOWED !
promissary notes/future sew as unsid
- .
=
NOT ALLOWED !

OBLIGATIONS

kinds of Obligations nCurtain action)


Active Subj (creditor).

~ passive subj (debtor)


Essential Elements =
.

& subject master


Jundical tie

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