South Carolina Action by Unanimous Written Consent of the Shareholders to Approve Organizational Statement, Elect Officers, Approve Corporate Seal, Approve Shareholder Certificate, Approve Corporate Bank Account, and Authorize Payment of Organizational Expenses

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This form is for action by unanimous written consent of the shareholders.
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FAQ

Although the board has the power to make all decisions on behalf of its corporation, many business decisions are actually made by the corporation's officers. The board of directors is, however, responsible for making certain major decisions.

Hear this out loud Pause(a) Unless prohibited or limited by the articles or bylaws, any action that may be taken at any annual, regular, or special meeting of members may be taken without a meeting if the corporation delivers a written or electronic ballot to every member entitled to vote on the matter.

In a capitalist economy, property and businesses are owned and controlled by individuals. In a socialist economy, the state owns and manages the vital means of production. However, other differences also exist in the form of equity, efficiency, and employment.

Hear this out loud PauseOfficially, control is in the hands of the person, or people, who own a majority share of the firm. Practically, these shareholders will then entrust this control to the board of directors, who often entrust it again (or some of it) to the CEO and senior management.

Hear this out loud PauseSouth Carolina corporations with a single shareholder or more can make the statutory close corporation election. Under the Supplement, statutory close corporations that do not follow typical corporate formalities will not expose their shareholders to personal liability.

Hear this out loud PauseSouth Carolina Business Corporation Act of 1988 defines a Corporation or Domestic Corporation as a corporation incorporated for profit and not a foreign corporation. Any person may act as the incorporator of a corporation by delivering articles of incorporation to the Secretary of State for filing.

Chief Executive Officer (CEO) or President -- This person will be the driving force behind the company; he or she will make things happen, put together the resources to support the company and take the product to the market place.

A majority shareholder is a person or entity that owns and controls more than 50% of a company's outstanding shares. As a majority shareholder, a person or operating entity has a significant amount of influence over the company, especially if their shares are voting shares.

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South Carolina Action by Unanimous Written Consent of the Shareholders to Approve Organizational Statement, Elect Officers, Approve Corporate Seal, Approve Shareholder Certificate, Approve Corporate Bank Account, and Authorize Payment of Organizational Expenses