Ca Company Formation With Directors
Description
How to fill out California Limited Liability Company LLC Formation Package?
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FAQ
Corporations are required to have not less than three directors unless (1) shares have not been issued, then the number can be one or two, (2) the corporation has one shareholder, then the number can be one or two, or (3) the corporation has two shareholders, then the number can be two.
Board members are added?and removed?by a vote. For publicly traded companies, shareholders vote for directors, typically during the annual stockholders' meeting. For privately owned companies, the board typically adds and removes its own members.
A corporation is required by California law to have at least three directors. However, the corporation may have one director if the corporation has only one shareholder; and the corporation must have at least two directors if the corporation has only two shareholders.
The number or minimum number of directors shall not be less than three. Alternate directors may be permitted, in which event, the bylaws shall specify the manner and times of their election and the conditions to their service in place of a director.