Search results
Results from the WOW.Com Content Network
The Supreme Court has also acknowledged that one state's laws will govern the "internal affairs" of a corporation, to prevent conflicts among state laws. [22] So on the present law, regardless of where a corporation operates in the 50 states, the rules of the state of incorporation (subject to federal law) will govern its operation. [23]
Although uniform state legislation offers benefits in certain areas, such as interstate commerce, i.e. the Uniform Commercial Code, these benefits are less significant in corporation law where the "internal affairs" of a corporation are generally governed by the laws of its state of incorporation.
The federal Constitution created a "plurilegal federal union" in which there are four types of conflicts between different legal systems: federal vs. state, federal vs. foreign, state vs. state, and state vs. foreign. [1]
Articles of incorporation, also referred to as the certificate of incorporation or the corporate charter, is a document or charter that establishes the existence of a corporation in the United States and Canada. They generally are filed with the Secretary of State in the U.S. State where the company is incorporated, or other company registrar.
The law of most of the states is based on the common law of England; the notable exception is Louisiana, whose civil law is largely based upon French and Spanish law.The passage of time has led to state courts and legislatures expanding, overruling, or modifying the common law; as a result, the laws of any given state invariably differ from the laws of its sister states.
Originally published in 1857 by A. O. P. Nicholson, Public Printer, as The Revised Code of the District of Columbia, prepared under the Authority of the Act of Congress, entitled "An act to improve the laws of the District of Columbia, and to codify the same," approved March 3, 1855.
State governments are the primary regulators of annuities. Insurance departments in each state oversee the licensing of agents, the setting of policy and the financial stability of insurance ...
There are a number of legal benefits that come with incorporation. One significant legal benefit is the protection of personal assets against the claims of creditors and lawsuits. Sole proprietors and general partners in a partnership are personally and jointly responsible for all the legal liability (LL) of a business such as loans, accounts payable, and legal