This By-Laws document contains the following information: the name and location of the corporation, the shareholders, and the duties of the officers.
Corporate Bylaws For Shareholders In King
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State:
Multi-State
County:
King
Control #:
US-00444
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Word;
Rich Text
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King III follows an inclusive approach to stakeholders, whereby the legitimate interests of stakeholders (eg employees, suppliers, customers, regulators, the environment, community, etc) are considered and recognised over and above solely the shareholders' interests, in a manner which befits the long term ...
Principle 17: ensure that responsible investment is practiced by the organisation to promote the good governance and the creation of value by the companies in which it invests.
Principle 1: lead ethically and effectively. Principle 2: governs the company's ethics to build an ethical culture. Principle 3: ensure the organisation is a responsible corporate citizen.
King III requires boards to be comprised of a majority of non-executive directors, of whom the majority should be independent. Every year the directors who are classified as independent should have their independence assessed by the board, particularly those that have been on the board for longer than nine years.
King IV further addresses the understanding of legitimate and reasonable stakeholder expectations and the management thereof. The key major difference between King III and King IV is the change from the “apply or explain” culture to a “apply and explain” culture.
1.16 Principle 16 In the execution of its governance role and responsibilities, the Board should adopt a stakeholder inclusive approach that balances the needs, interests and expectations of material stakeholders in the best interests of the organisation over time.
The philosophy of the code consists of the three key elements of leadership, sustainability and good corporate citizenship. It views good governance as essentially being effective, ethical leadership.
Corporate governance refers to the framework of policies and guidelines that inform a company's conduct, decision-making and practice. This infrastructure is built upon four key principles: accountability, transparency, fairness and responsibility.
King III applies to “all entities regardless of the manner and form of incorporation or establishment of whether in the public, private or non-profit sectors.” King III has opted for the more flexible 'apply or explain' approach to its principles and recommended practices.
King IV™ reinforces the notion that good corporate governance is a holistic and interrelated set of arrangements to be understood and implemented in an integrated manner – good governance is not a tick-box or compliance exercise.