Also known as a Resident Agent. In states requiring the appointment of a Registered Agent, it is usually the address of the Registered Agent. A formal statement of any item of business that has been voted upon. The code is very explicit on how and when this election is made and the number of shareholders this type of corporation can have. Since this type of corporation pays no income tax, all gains and losses of the corporation pass through to the individual shareholders in proportion to their holdings.
Shareholders are the owners of a corporation based on their holdings.
They own an interest in the corporation rather than specific corporate property. Also known as stockholders. May also be known as a share certificate. A corporation that is either wholly owned or controlled through ownership of a majority of its voting shares, by another corporation or business entity. Any organization that is determined by the Internal Revenue Service to be exempt from federal taxation of income.