West Virginia Unanimous Written Action of Shareholders of Corporation Removing Director
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FAQ
Shareholders and directors have two completely different roles in a company. The shareholders (also called members) own the company by owning its shares and the directors manage it.
The owners of a corporation are shareholders (also known as stockholders) who obtain interest in the business by purchasing shares of stock. Shareholders elect a board of directors, who are responsible for managing the corporation.
While the shareholder is the owner of the company, the directors are the managers of the company. The same person can assume both the roles unless articles of association of the company prohibit it.
Shareholders are actual owners of a corporation, while the board of directors manages the corporation. The law acknowledges a corporation as a completely separate, legal entity.
A board of directors (B of D) is the governing body of a company, elected by shareholders in the case of public companies to set strategy and oversee management. The board typically meets at regular intervals. Every public company must have a board of directors.
Removal of directors and officers is resolved by a vote of shareholders in a special meeting, by majority vote of the shareholders. Alternatively, a shareholders resolution, documenting in writing the decision made by shareholders, must be signed and placed in the corporation's minute book.
Corporate director refers to a member of a corporation's board of directors. The board of directors generally takes responsibility for the business affairs of the corporation. A corporate director does not make decisions for the corporation on his own.
Director, a director is the person who takes part in managing important business affairs, while officers oversee daily aspects of a business. Officers are also directly involved in the daily management affairs of the business. An officer can be a: CEO.
In fact, it is common for the CEO to also be a director. There are three significant officer roles: Chief Executive Officer (CEO): the highest-ranking executive of the corporation responsible for the corporation's operations at every level, the CEO reports directly to the Chairman of the Board.