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Recognizing that many states have developed specialized “business courts” that may be more appropriate venues for business litigation, the current MBCA enables the legislature to identify in its version of the MBCA the venue for such disputes in the court believed to be best suited to handle this type of cases. UBOC Compatibility. Much of ...
A registered agent is a designated person or entity authorized to receive legal and official documents on behalf of a company or LLC, and can be referred to as "Resident Agent", "Statutory Agent", commercial or noncommercial clerk, [5] [6] or by the Federal Motor Carrier Safety Administration (FMCSA), a "process agent". [7]
The Department of Financial Protection and Innovation has a long history, dating back to the formation of California's first banking department. It became the DFPI in 2020 with the passage of the California Consumer Financial Protection Law (CCFPL). [2] Formation of State Banking Department (1909) and State Corporations Department (1913)
Another way to identify a fiduciary is through the titles the advisor has. An advisor with any of the following certifications belongs to an organization that expects its members to act in the ...
The fiduciary standard entails certain obligations on the advisor that a non-fiduciary does not want to be held to. The fiduciary question is one of the most important questions you can ask an ...
State statutes typically provide automatic or "default" rules for how an LLC will be governed unless the operating agreement provides otherwise, as permitted by statute in the state where the LLC was organized. The limited liability company has grown to become one of the most prevalent business forms in the United States.
A state office, perhaps called the "Division of Corporations" or simply the "Secretary of State", [20] will require the people who wish to incorporate to file "articles of incorporation" (sometimes called a "charter") and pay a fee. The articles of incorporation typically record the corporation's name, if there are any limits to its powers ...
The fiduciary duties of promoters include: not to make any secret profit out of the promotion of the company. Secret profit is made by entering into a transaction on their own behalf and then selling the concerned property to the company at a profit, without disclosing the profit to the company or its members.
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