LGS 200 Chapter Notes - Chapter 16: Cumulative Voting, Transact, Multinational Corporation
4 Apr 2017
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Document Summary
Corporation: a fictitious legal entity that is created according to statutory requirements. Corporation codes: state statutes that regulate the formation, operation, and dissolution of corporations. Limited liability of shareholders: a general rule of corporate law which provides that generally shareholders are liable only to the extent of their capital contributions. Publicly held corporation: a corporation that has many shareholders and whose securities are usually traded on national stock exchanges. Closely held corporation: a corporation by one or a few shareholders. Revised model business corporation act (rmbca): a 1984 revision of the mbca that arranges the provisions of the act more logically, revises the language to be consistent, and makes substantial changes in the provisions. Domestic corporation: a corporation in the state in which it was formed. Articles of incorporation: the basic governing documents of a corporation, which must be filed with the secretary of state of the state of incorporation.
