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Specializing in Midwest &
Southwest Incorporation & LLC formation |
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Who Does What in a Corporation (LLC)?
| Shareholders (Members) |
Directors (Managers or Members) | Officers | |
| Legally Required | Appoint directors; approve fundamental changes | Manage corporate affairs, declare dividends, choose and delegate authority to officers | Administer roles required by the state law |
| Typical Corporation | Buy and sell shares; vote to adopt corporate policy | Ratify decisions of officers | Run the day-to-day affairs of the corporation |
| Closely Held* | All three roles are typically filled by the same people | ||
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* Closely Held Corporations: Most
businesses are closely held. Typically these are
Close
Corporations and/or S Corporations. | |||
Disclaimer - Not Providing Legal Services - Proactive Management, Inc. presents the material on this site as general information only. It is not offered as and does not constitute legal advice or legal opinion and should not serve as a substitute for advice from an attorney or accountant familiar with the facts of your specific situation. We provide business formation services. We are not a law firm and do not provide legal or tax advice or services. We make no warranty, express or implied, concerning the accuracy or reliability of the content at this site or at other sites to which we link.