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The term public benefit corporation (PBC) or another abbreviation may be added to the entity's name if the founders choose. Finally the share certificates that are issued by the entity should state that the firm is a public benefit corporation. A shareholder vote is required to amend the articles which must include "non-voting" shares.
The Financially Distressed Municipalities Act (Act of 1987, P.L. 246, No. 47), also known as Act 47, is a Pennsylvania statute outlining procedures to stabilize municipalities in Pennsylvania undergoing financial distress.
Public liability is part of the law of tort which focuses on civil wrongs. An applicant (the injured party) usually sues the respondent (the owner or occupier) under common law based on negligence and/or damages. Claims are usually successful when it can be shown that the owner/occupier was responsible for an injury, therefore they breached ...
Private Limited Company: have 2–200 shareholders; shares are held privately and cannot be offered to the public. Have limited liability and registration is mandatory. Regulated by the union government. Public Limited Company: have more than 200 shareholders. Can be listed or unlisted in the share market.
The first state commissioner of insurance was appointed in New Hampshire in 1851 and the state-based insurance regulatory system grew as quickly as the insurance industry itself. [4] Prior to this period, insurance was primarily regulated by corporate charter, state statutory law and de facto regulation by the courts in judicial decisions.
There are a number of exceptions, which differ according to the law of each state, to the principle of limited liability. First, at the very least, as is recognized in public international law, [51] courts will "pierce the corporate veil" if a corporation is being used to evade obligations in a dishonest manner.
The Institute for Justice says Indianapolis police and prosecutors are exploiting one of the biggest FedEx hubs in the U.S. to seize cash for alleged crimes they never explain.
The municipal authority is an alternate vehicle for accomplishing public purposes without the direct action of counties, municipalities and school districts. These purposes commonly include the acquisition, financing, construction and operation of projects such as water supply and sewer systems, airports, transit systems, parking garages, flood ...