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26 terms

Chapter 29

STUDY
PLAY
Legal Entity
Legal being existence
Charter
The authority granted by legislature that gives a corporation the right to exist
Foreign Corporation
A corporation created by or under the laws of another state, government, or country other than the one transacting business
Eleemosynary Corporation
A corporation organized for a charitable or benevolent purpose
Chairperson
The presiding officer of the board of directiors of a corporation
Corporation
An artificial being created by law
Franchise
A special privilege that does not belong to the genral public but is granted by the government to an individual or corporation
De jure Corporation
A corporation that is created in total compliance with the laws of the state in which it is organized
Subsidiary Corporation
A corporation that is under the control of another corporation that owns a majority of the shares
President
The chief of a corporation who implements the policies established by rhe board of directors
Articles of Incorporation
The instrument that provides for the organization of a corporation
Domestic Corporation
A corporation created by or organized under the laws of another state, government, or country other than the one in which it is transacting business
Defacto Corporation
A corporation existing in fact and that in good faith has made an effort to comply with state law but has failed to meet one or more of the requirements of the law
Board of Directors
The group of persons who is responsible for governing a corporation
Share
A specific part or portion of the capital of a company or corporation
Preferred Stock
Stock that has priority as to dicidends over the common stock of a corporation
Shareholder(stockholder)
A person who owns shares of stock in a corporation
Transfer Agent
A ban kor other institution that handles the transfer of stock for a corporation
Stock
Shares of ownership in corporation
Par Value
Face value of all shares of stock in a particular class
Stock Certificate
A written document stating that the named person owns a certain number of shares of stock in a corporation
Treasury Stock
Stock that belongs to a corporation
Common Stock
The ordinary stock of a corporation that has no prefernce or special rights
Book Value
The net worth of share of stock
Promoters
The person who organize a corporation
Watered Stock
Stock that is issued as paid up stock but is not and that is issued below par value