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In a non-profit corporation, the "agency problem" is even more difficult than in the for-profit sector, because the management of a non-profit is not even theoretically subject to removal by the charitable beneficiaries. The board of directors of most charities is self-perpetuating, with new members chosen by vote of the existing members.
Section-25 company (Section 8 as per the new Companies Act, 2013) Special licensing [vague] [citation needed] Registration can be with either the Registrar of Companies (RoC) or the Registrar of Societies (RoS). The following laws or Constitutional Articles of the Republic of India are relevant to the NGOs:
A 501(c)(6) organization is a business league, a chamber of commerce like the U.S. Chamber of Commerce, a real estate board, a board of trade, a professional football league or an organization like the Edison Electric Institute and the Security Industry Association, that are not organized for profit and no part of the net earnings goes to the ...
The Model Nonprofit Corporation Act (MNCA) is a model act prepared by the Nonprofit Organizations Committee of the Business Law Section of the American Bar Association. [1] The MNCA is a model set of statutes governing nonprofit corporations proposed for adoption by state legislatures.
Unlike for-profit corporations that benefit from broad and general purposes, non-profit organizations need to be limited in powers to function with tax-exempt status, but a non-profit corporation is by default not limited in powers until it specifically limits itself in the articles of incorporation or nonprofit corporate bylaws.
In California, both foreign and domestic LLCs, corporations, and trusts, whether for-profit or non-profit—unless the entity is tax exempt—must at least pay a minimum income tax of $800 per year to the Franchise Tax Board; and no foreign LLC, corporation or trust may conduct business in California unless it is duly registered with the ...
The Pennsylvania Open for Business Online Business Registration Interview (OBRI) is a step-by-step wizard that guides users through the process of registering an enterprise with the Departments of Labor & Industry, Revenue, and State. The OBRI is a business registration tool and is not intended to be a replacement for professional consultation ...
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related to: non profit registration requirements by state search llc company