Virgin Islands Resolution of Shareholders Authorizing an Increase in the Number of Directors of Corporation
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How to fill out Resolution Of Shareholders Authorizing An Increase In The Number Of Directors Of Corporation?
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FAQ
Shares can be transferred between shareholders at any time, but it's important to note that with a share transfer, it doesn't increase or decrease the number of shares that are already in circulation. Issuing shares creates new shares. The distribution of shares is detailed in a partnership agreement.
This section is intended to offer protection to the value of members' shareholdings. The deceptively straightforward provision requires members to approve any disposition of more than 50% of a company's assets that is to be made outside the ordinary course of the business.
Under BVI law, shareholders are not entitled to intervene directly in decisions made or actions that may be taken by the directors. The directors of the business company are required to comply with their common law duties as well as specific duties which are imposed on the directors under the BC Act.
A nominee shareholder is an unrelated third party, who is officially registered as the holder of shares in an offshore company. The purpose of the nominee shareholder is to uphold client secrecy by shielding the actual owner of the company from being publicly associated with that particular offshore company.
What is the process to transfer shares in a BVI company? Shares in a BVI company are transferred by a written instrument of transfer, which must be signed by the transferor and contain the name and address of the transferee. The executed instrument of transfer should be sent to the company for registration.
Shares or debentures are movable property. They are transferable in the manner provided by the articles of the company, especially, the shares of any member of a public company. The transfer of securities is possible through any contract or arrangement between two or more persons.
Every BVI business company must have at least one director, although the memorandum or articles may provide for a company to have more than one director.
The shareholders of a business company have the power, subject to the terms of the Memorandum and Articles, to remove a director of the business company from office by passing a shareholders' resolution.
