Corporate Organization and Management

Front Cover
Ronald Press Company, 1918 - Corporation law - 778 pages
 

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Contents

Where to Incorporate
39
Domestic Incorporation 38 Foreign Incorporation
40
Cheap Incorporation
44
Reputation of Different States
45
Liabilities Imposed in Different States
46
Cost of Incorporation
49
Avoiding Fees and Taxation
52
Counsel Fees
56
Corporate Equipment
57
Part IIIThe Stock System VII The Capitalization
58
Capitalization at Less than Real Values
61
Capitalization at Real Values 53 Capitalization on Earning Capacity
62
Capitalization of GoodWill
64
Form of Capitalization
65
Bond Issues 57 Capitalization as Affected by Financial Ex igencies
66
Stock
68
Shares
69
Certificates of Stock
73
Unissued Stock
74
Issued Stock 63 FullPaid Stock
75
Common and Preferred Stock 65 Other Classifications
77
Preference as to Dividends
78
FullPaid Stock
91
Chapter Page
100
Part IVCorporate Control
102
Directors
118
Chapter Page 105 Appointment of Standing Committees
120
Adoption of ByLaws
121
Common Law Liability of Directors 108 Statutory Liabilities of Directors
122
Resignation of Directors 110 Removal of Directors
124
Vacancies on the Board
125
Directors Holding Over
126
Directors Dealing with Corporation
127
Officers
128
Qualifications of Officers
129
Powers and Duties of Officers
130
Liabilities of Officers 119 De Facto Officers 120 Removals and Resignations
133
BOOK IICORPORATE ORGANIZATION Part VThe Charter XV General Considerations
137
Classification
139
Charter Details
142
Application for Charter
143
Incorporators
144
Number of Incorporators
145
Functions of Incorporators 128 Incorporators as Stockholders 129 Dummy Incorporators
146
The Corporate Name
149
Selection of Name
150
The Corporate Purposes
154
Comprehensive Purposes
155
Illegal Purposes
156
Things Ultra Vires
157
Chapter Page XIX Stock Clauses t x u i
159
Common Stock
160
Preferred Stock
161
Location and Duration of Corporations
162
The Board of Directors
165
Number
166
Authority
167
Power to Pass ByLaws
168
Classification
169
Standing Committees
170
Arrangement
171
Special Provisions
172
Usual Objects of Special Provisions 155 Cumulative Voting
173
Classification of Stock
176
Corporate Stockholding
177
Limitations on Indebtedness
178
Limitations on Salaries
179
Sundry Provisions
180
Execution and Filing of Charter
181
Signing and Acknowledgment 163 Filing
182
Certified Copies
184
Amendment of Charter
186
Part VIThe ByLaws XXV General Considerations
188
Subject Matter 170 Power to Make
189
Adoption of First ByLaws
194
ByLaw Provisions Relating to Stock
195
Certificates of Stock
196
Transfers of Stock 177 Transfer Agent and Registrar
197
Stock and Transfer Books
198
Preferred Stock 180 Treasury Stock
199
Lost Certificates
200
ByLaw Provisions Relating to Stockholders
201
Special Meetings
202
Officers of Meetings 185 Notice of Meetings
203
Voting
204
Certified List of Stockholders 188 Election of Directors
205
Quorum
206
Proxies 191 Order of Business
207
ByLaw Provisions Relating to Directors
208
General Powers 195 Term of Office 196 Classification
210
Removal 198 Vacancies
211
Meetings
212
Notice of Meetings
213
Quorum
214
Election of Officers
215
Removal of Officers 204 Compensation of Directors
216
Power to Pass ByLaws 206 Order of Business
217
ByLaw Provisions Relating to Standing Com 207 Purpose
218
Appointment 209 Composition
221
ByLaw Provisions Relating to Officers 212 Enumeration
225
Presiding Officers
226
Secretary 215 Treasurer
227
Managing Officers 217 Counsel Auditor
229
Assistant Officers
230
Delegation of Official Powers 220 Salaries
231
Removals Vacancies
232
ByLaw Provisions Relating to Dividends and Finance
233
Limitations of Debt
234
Bank Deposits
235
Sundry Provisions 227 General 228 Corporate Seal 229 Penalties
236
Amendments
237
Part VIIOrganization Meetings First Meeting of Stockholders
239
Preparation of Minutes 233 Conduct of First Meetings
242
Opening the First Meeting of Stockholders
244
Reception of Charter
245
Adoption of ByLaws 237 Election of Directors
246
Exchange of Stock for Property
247
Other Business
248
First Meeting of Directors 240 Calling the Meeting
249
Minutes
250
Opening the First Meeting of Directors 243 Election of Officers
251
Adoption of Stock Certificate
252
Acceptance of Subscriptions
253
Exchange of Stock for Property
254
Treasurers Bond Depositary
255
Other Business
256
BOOK IIICORPORATE MANAGEMENT
259
Part VIIIStock Records and Stock Transfer Chapter Page XXXV The Siock Records
261
Stock Certificate Book
263
Stock Ledger and Stock Book 252 Transfer Book
265
Closing the Books
269
Transfer of Stock
271
Transfer of Treasury Stock
277
Transfer Agent and Registrar
278
Lost and Stolen Certificates
280
Pledges of Stock
282
Opening the Meeting
283
RollCall
284
Restrictions on Transfers
285
Lien of Corporation
286
Rules Regulating Transfers
287
Duties of Officers as to Transfers 263 Who May Transfer Stock
288
To Whom Stock May be Transferred 265 Liability Involved in Transfers
289
Form of Transfer
292
Transfers to and by Agents
293
Transfers to and by Trustees
295
Minors 271 Guardians
296
Corporations
297
Partnerships 274 Summary of Rules Regulating Transfers
300
Stock Transfer Tax
303
General Rulings
304
Part IXMeetings and Records XXXIX Annual Meeting of Stockholders
306
Closing Transfer Books 280 Notice of Annual Meeting
307
Preparations for Annual Meeting
309
Reading of Minutes
316
Annual Reports
317
Election of Directors
318
Voting at Elections
319
Other Business
322
Adjournment
323
Signing Minutes
324
Special Meetings or Stockholders
325
Notice of Special Meeting
327
Consent Meetings
328
Opening Formalities 300 Special Business
329
Adjournment
330
Meetings of Directors and of Standing Com mittees
331
Purposes of Meetings 305 Assembling Meetings
332
Call for Special Meetings
333
Notice of Special Meetings
334
Call and Waiver of Notice
335
Consent Meetings
336
Opening Directors Meetings 311 Quorum 312 Reading the Minutes 313 Reports
338
Unfinished and New Business
339
Adjournment Standing Committees 316 Procedure at Meetings
340
Minutes of Meetings
342
Contents of Minute Book
343
Form and Subject Matter of Minutes
344
Relation of Treasurer to Other Corporate Authorities
358
The Treasurers Liabilities
366
Sources of Liability 340 1 Neglect of or NonPerformance Duties 341 2 Faulty Performance of Duties 342 3 Unauthorized Acts 343 4 Illegal Acts
367
Statutory Liabilities
373
The Treasurers Bond 345 General
375
Statutory Requirements 347 Corporate Requirements
376
Nature of the Bond 349 Amount of Bond 350 Personal Bonds
377
Surety Company Bonds
380
Liability of Bondsmen
382
Termination of Bond
385
The Treasurers Reports 354 The Report to Directors
387
Report to Stockholders
388
Part XIThe Corporate Finances XLVIII The Corporate Funds 356 General
390
Custody of Corporate Funds
392
Disbursement of Corporate Funds
393
Return of Corporate Funds
395
Declaration of Dividends
396
Profits and Dividends
399
Equality of Dividends
401
Compelling the Declaration of Dividends
402
Status of Declared Dividends
404
Dividends Continued
407
Cash Dividends 369 Dividends Not in Cash
408
1 Stock Dividends
409
2 Bond Dividends
410
3 Scrip Dividends
411
373 4 Property Dividends 374 Notice of Dividends 375 To Whom Paid 376 Payment of Dividends
413
Dividend Notices
414
Chaptek Page 156 Dividend Check
416
Illegal Dividends
419
Liability for Illegal Dividends
420
Treasurers Liability as to Dividends
421
Bonds
423
Authorization of Bond Issues 382 Statutory Provisions
425
Debentures
426
Mortgage Bonds
427
Coupon Bonds 386 Form of Bond
428
Form and Nature of Coupon 388 Trustees Certificate
429
Deeds of Trust
430
Recitals of Deed of Trust
431
Execution and Filing of Deed of Trust 392 Sinking Fund
433
Sale of Bonds
434
Liabilities of Vendor 395 Rights of Holders
435
Redemption of Bonds
436
Investment Value of Bonds
437
Kinds of Bonds
438
ShortTerm Notes
442
Dividends
445
Distinctions 402 How Formed 403 Legal Status 404 Illegal Voting Trust
446
Restriction of Stock Sales
449
Holding Corporations
450
Incidental Powers to Hold Stock
451
Authorization to Hold Stock
452
What Holdings Carry Control
453
Its Function in Industrial Combination
455
Limitations on Use of Holding Companies
456
Parent Companies
458
Concerning Promoters
460
The Promoters Relation to Corporation
461
Illegal Arrangements
462
396
465
Legitimate Arrangements
466
Incidental Liabilities of Promoter and Cor poration
469
Restrictions on Sale of Stock
470
Underwriting
471
Protection of Minority
473
Encroachment on Minority Rights
474
Protective Measures
476
Cumulative Voting
477
Classification of Stock 426 Voting Trusts
480
Special Arrangements
481
Annual Audits 429 Charter Limitations
482
Legal Remedies
484
Incorporating a Partnership
488
Name
489
Capitalization
490
Exchange of Property for Stock
492
Stock Adjustments
493
Board of Directors
494
Maintenance of Agreed Management
496
Officers 439 Close Corporations and Their Conduct
499
Restricting the Sale of Stock
503
Consolidation Reorganization and Dissolution
506
Statutory Consolidation
507
Consolidation by Sale or Lease of Assets
508
Consolidation by Purchase of Controlling Interest
509
Combinations 446 Reorganization
510
Dissolution
511
Part XIIIAllied Forms of Organization LVIII LIX LX JointStock Companies and Partnership Asso ciations
513
Partnership Associations
518
Syndicates and Joint Adventures
519
Associations Under Deeds of Trust
520
453 Voluntary Associations in Massachusetts
523
Nature of the Voluntary Association
524
Liability Under the Voluntary Association
526
Regulation of Voluntary Associations
529
Liability to Taxation
530
Advantages of the Voluntary Association
532
Plan for Stock Partnership
533
Plan for Suggested Form of Partnership
534
Advantages of Suggested Form of Partner ship
537
BOOK VFORMS AND PRECEDENTS
541
Charter Forms
543
New Jersey Charter U S Steel Corp
545
New York Charter
551
New York CharterStock Without
552
Chapter Page
555
ByLaw Forms
573
Forms of Subscription Lists
584
Receipts for Stock Subscriptions
590
Voting Trust Forms
606
Chapter Page
609
Option Agreements
625
Calls and Waivers for Stockholders Meetings
631
Calls and Waivers for Directors Meetings
638
Chapter Page 63 Notice of Annual Meeting U S Steel Corp
643
Publication Notice of Annual Meeting 65
645
Notice of Special Meeting of Directors
646
Notice of Regular Meeting of Directors
647
Forms of Proxies
648
ProxySimple Form
650
Unlimited 71 Time Limited
651
Particular Meeting
652
Limited as to Stock 74 Annual MeetingFormal
653
Corporate Proxy
654
Revocation of Proxy
655
Motions and Resolutions
656
Motion to Receive Presidents Report 78 Instructing Secretary to Cast Vote 79 Instructing Secretary to Cast Vote Formal 80 to Amend ByLaws
657
to Pay Bills 82 to Employ General Manager 83 to Appoint an Investigating Com mittee
658
Stockholders Resolution for Sale of Entire Assets 85 Stockholders Resolution Authorizing Con
659
Stockholders Resolution to Amend ByLaws 87 Directors Resolution to Open Bank Ac count
660
Directors Resolution Designating Deposi tary 89 Directors Resolution Designating Bank
661
Directors Resolution Authorizing Issue of Stock 91 Directors Resolution Authorizing Contract 92 Directors Resolution Declaring Dividend 93 Direct...
662
Preferred Stock 94 Directors Resolution Declaring Dividend Preferred and Common Stock
663
LXXV
667
Minutes of Corporate Meetings
674
Reports
682
Miscellaneous Notices
689
Dividend NoticeMailing
691
Publication 127 Notice Accompaning Dividend Check 128 Dividend Notice
692
Dividend NoticeCommon Stock
693
Dividend NoticeCommon and Preferred Stock 131 Dividend NoticeMailing Orders Requested
694
Mailing Order for Dividends Notices of Appointment 133 Notice of Election as Director
695
Notice of Election as DirectorAcceptance Requested
696
Notice of Election as General Manager 136 Tender of Position as Sales Manager
697
Resignations
698
Resignation of DirectorEffective on Ac ceptance
699
Resignation of DirectorPeremptory 140 Resignation of DirectorFuture Date
700
Resignation of PresidentConditional 142 Resignation of Treasurer
701
Corporate and Official Signatures
703
Official SignatureInformal 144 Formal 145 Corporate SignatureInformal 146 Formal
704
Testimonium ClauseCorporate Signature Seal Attested 148 Testimonium ClauseTwo Corporate Signa tures
706
Testimonium ClauseCorporate and Indi vidual Signatures 150 Testimonium ClauseSignature Affixed by Agent
707
Checks Receipts and Notes
708
Countersigned 153 Official Signatures
709
Purpose Stated 155 Draft Form
710
Indorsement of Corporate Check
711
Check for Deposit 159 Corporate Draft
712
Corporate Receipts Form 160 Corporate Receipt 161 Official Signature
713
Dividend Receipt Corporate Notes
714
Corporate NoteBy President 164 Corporate NoteBy Treasurer 165 Collateral NoteOn Demand
715
Corporate NoteCollateral Security
716
Certifications
718
Certified Resolution Designating Bank 171 Certification of Resolution Designating Bank 172 Certification of Resolution
720
Certificate of Election of Treasurer
721
Officers 175 Certification of Transcript from Bylaws
722
Certification of Transcript from Minutes 177 Certification of MinutesPresident and Sec retary
723
Secretarys Affidavit to Minutes 179 Notarial Exemplification of Minutes
724
Treasurers Affidavit to Corporate State ment 181 Notarial AcknowledgmentNew York
725
Powers of Attorney Contracts and Assign ments
726
Power of AttorneyTo Collect Money 184 Power of AttorneyTo Make Delivery of Deed
727
Power of AttorneyTo Manage Sell and Deed Land
728
Revocation of Power of Attorney Corporate Contracts
730
Instalment and Dividend Books
736
The Corporate Calendar
742
Powers
766
mittees
774

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