The business decisions of an LLC are made by the members unless the articles of organization provide that the LLC will controlled by a manager or managers. The takeover of one company by another. It is the absorption of one company by another, the former losing its legal identity, and the latter retaining its own name and identity and acquiring assets, liabilities, franchises, and powers of former, and the absorbed company ceasing to exist as a seperate business entity. A written record of memoranda or notes which detail the events of the corporation and it acts and transactions. These records should be kept in the corporation's record book.
Most states allow no-par stock.
The value of capital for franchise tax purposes is determined by the state and this may result in higher franchise taxes in comparison with low par-value stock. A corporation's officers usually consist of a president, vice-president, treasurer, and secretary. In most states, one person can hold all of these posts. An agreement, similar to a corporation's bylaws, among the LLC's members which govern the LLC's operations and the rights of its members. The initial meeting of incorporators of a corporation to elect directors, ratify the articles of incorporation.