Organizing a Corporation and Paying Dividends

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Presentation transcript:

Organizing a Corporation and Paying Dividends Chapter 11 Organizing a Corporation and Paying Dividends

Some Definitions Corporation Board of Directors An organization with the legal rights of a person and that may be owned by many persons. Board of Directors A group of persons elected by the stockholders to manage the corporations money.

Article of incorporation A written application requesting permission to form a corporation. Charter The approved articles of incorporation.

Rights of the stockholders To vote at stockholders meetings unless an exception is made for holders of a particular kind of stock. To share in a corporation’s earnings To share in the distribution of the assets of the corporation if it ceases operation sand sells all its assets.