Corporate Organization
corporate organization
FAQ About Corporations: Organization And Capital Stock Transactions
What is the Definition of ‘Corporation’?
A corporation is a business organized as a legal entity separate and distinct from its owners under state corporation law.
How Did Justice John Marshall Define ‘Corporation’?
In 1819 Chief Justice John Marshall defined a corporation as “an artificial being, invisible, intangible, and existing only in contemplation of law.
What is Authorized Stock?
Authorized stock is the number of shares that the State Department in Albany authorized the corporation to sell, and which is specified in the charter.
What is Book Value per Share?
Book value per share is the ownership or equity a common stockholder has in the net assets of the corporation. (NOTE: net assets equal the total amount of the stockholders equity section).
What are By-Laws?
By-laws are the internal rules and regulations that the corporation follows to administer its business.
What is Cash Dividend?
A cash dividend is a distribution of earnings by a corporation to its shareholders.
What is the Charter?
The charter is the legal document that the State Department issues and which authorizes the creation of the corporation.
What is Common stock?
Common stock is the outstanding stock when a corporation has issued only one class of stock.
What is Cumulative Dividend?
Cumulative dividend is a feature of preferred stock that requires that the corporation pay the stockholder the current and the unpaid prior-year dividends before common stockholders receive their dividends.
What is Cumulative Preferred Stock?
Cumulative preferred stock is a class of preferred stock that has a right to receive regular dividends that have been passed (not declared) before any common stock dividends are paid.
What is Nonparticipating Preferred stock?
Nonparticipating Preferred Stock is a class of preferred stock whose dividend rights are usually limited to a certain amount.
What is No-par Value Stock?
No-par value stock is capital stock that has not been assigned a value in the corporate charter.
What are Organization Costs?
Organization costs are various costs and expenses incurred in the formation of a corporation.
What is Outstanding Stock?
Outstanding stock is issued stock which is in the hands of stockholders.
What is Paid-in-Capital?Paid-in-Capital is the contributed cash and other assets paid by shareholders to a corporation in exchange for capital stock.
What is Par Value?
Par value is the monetary value assigned to a share in the corporate charter.
What is Preferred Stock?
Preferred stock is a class of stock with preferential rights over common stock.
What is a Privately Held Corporation?
A privately held corporation is a corporation that has only a few stockholders and whose stock is not available for sale to the general public.
What is a Publicly Held Corporation?
A publicly held corporation is a corporation that may have many stockholders and whose stock is traded in organized security markets.
What is Retained Earnings?
Retained earnings is the account into which the net income is transferred from the Income Summary Account.
What is Retained Earnings Statement?
The Retained Earnings Statement is a financial statement that summarizes the changes in the retained earnings of a corporation for s specific period of time, such as a month, quarter, or year.
What is Stated Value?
Stated value is a value similar to par value, approved by the board of directors of a coporation for no-par stock.
What is Stock?
Stock is a certificate of ownership in a corporation.
How do we Define Stockholders?
Stockholders are the owners of a corporation.
What is Stockholders’ Equity?
Stockholders’ Equity is the owners’ equity in a corporation; also called ‘net assets.’
What is Treasury Stock?
Treasury Stock is the corporation’s own stock that has been issued and then reacquired from shareholders.
Corporate Law – Non-Profit Organization?
If I applied to a non-profit corporation for a membership (5.00/year) and they refused my membership without giving an explanation of exactly why other than that “they believe I do not support the objectives of the society” without giving an explanation of what I have done to make them believe this.. can I take them to court using a statement of claim? Or how does one proceed?
They (CAS) also refuse to allow me to read the by-laws. I am simply an advocate who works to improve child welfare, non-violent, not aggressive but do speak to the press and to the Government regarding issues in the system.
No you can’t–it’s called freedom of association. In order to be free to associate with whom you choose, it is necessary to have the ability to exclude those with whom you do not choose to associate. One requires the other. Hence, you can still join the Boy Scouts of America, as long as you’re a boy,,,and not gay,,,or, at least, if you are gay, no one knows.
(The only exception I’ve ever heard is where the application for membership, if any, implies a promise to admit you in some way. The action is for breach of an implied promise that caused you some type of injury.)
Ditch Witch Organization Corporate Video
