Question

Even after commencement of business operations, officers and directors have a responsibility to comply with _______.

Answer 1

Even after the commencement of business operations, officers and directors have a responsibility to comply with corporate formalities.

What are the duties of corporate directors and officers?

In general, the officers are in charge of carrying out the board's policies and making day-to-day choices, while the board of directors is in charge of important business and policy decisions.

• announcing and disbursing corporation dividends.
• approving significant corporate choices.
• hiring, promoting, managing, and firing managerial and corporate leaders.
• choosing between issuing bonds or stock.

A corporation's owners are its shareholders, usually referred to as stockholders, who acquire an interest in the company by acquiring shares of stock. A board of directors is chosen by shareholders, and they are in charge of running the business.

Officers and directors are still required to follow corporate formalities even after the start of business operations.

To learn more about the duties of corporate directors and officers refer to:

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