This By-Laws document contains the following information: the name and location of the corporation, the shareholders, and the duties of the officers.
Bylaws Of A Corporation With 2 Owners In Bronx
Category:
State:
Multi-State
County:
Bronx
Control #:
US-00444
Format:
Word;
Rich Text
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(a) Each corporation shall keep correct and complete books and records of account and shall keep minutes of the proceedings of its shareholders, board and executive committee, if any, and shall keep at the office of the corporation in this state or at the office of its transfer agent or registrar in this state, a ...
Corporate bylaws are required by state law in New York, but you don't need to file your bylaws with the NY Department of State. The law stipulates that your bylaws must be adopted by your incorporators during your company's initial organization meeting.
General partnerships are businesses with two or more owners that share profits and personal liability for the business they own. A partnership does not require you to register your business with the state.
Furthermore, it must be established by at least five individuals known as incorporators. A corporation's ownership is divided into stock shares.
Unlike sole proprietorships, a corporation can be owned by multiple people.
Partnerships are the simplest structure for two or more people to own a business together. There are two common kinds of partnerships: limited partnerships (LP) and limited liability partnerships (LLP).
Advantages: There is no limit on the number of owners a corporation may have, thus allowing the corporation to raise substantial amounts of capital, the life of the business can continue beyond the death of any of the owners, the liability of the owners is limited to the amount of their investment in the firm.