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> All corporations must have a board of directors It this a legal requirement, or is it just by convention? Has anyone ever experimented with alternate company
by stepstep 12y ago
> All corporations must have a board of directors
It this a legal requirement, or is it just by convention? Has anyone ever experimented with alternate company structures?
- minimax 12y agoI'm not a lawyer, but I did just read a book† written by a lawyer†† about this topic. I think it's possible that it can vary state to state, but in Delaware (a very popular place to form corporations) the law††† says: The business and affairs of every corporation organized under this chapter shall be managed by or under the direction of a board of directors, except as may be otherwise provided in this chapter or in its certificate of incorporation. † http://www.amazon.com/The-Shareholder-Value-Myth-Shareholders/dp/1605098132 http://www.amazon.com/The-Shareholder-Value-Myth-Shareholder... †† http://www.lawschool.cornell.edu/faculty/bio_lynn_stout.cfm http://www.lawschool.cornell.edu/faculty/bio_lynn_stout.cfm ††† http://delcode.delaware.gov/title8/c001/sc04/index.shtml http://delcode.delaware.gov/title8/c001/sc04/index.shtml