Willful violation of the automatic stay is treated very seriously by Bankruptcy Courts. Willful does not refer to whether the creditor knew that its action violated the automatic stay; rather, willful means that the creditor knowingly took the action, meaning that the action itself was not accident...
Articles of Incorporation - This is another term used to describe the legal document that establishes a corporation as a legal entity. Bylaws - These are the rules that govern the internal operations of a corporation or other organization. ...
Properties within an HOA are governed by a collective set of rules and bylaws that are enforced by the association. Each property owner is required to payHOA feesthat cover use and maintenance of common areas. These areas can include swimming pools, fitness centers and parking facilities, as we...
Corporate governance is based on rules, bylaws, policies and procedures to ensure companyaccountability. When done correctly, it establishes a framework for attaining a company's objectives in all management spheres. It also recognizes the importance of shareholders. Shareholders elect the company's boa...
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The definition of ex officio in law is much the same as with board directors. In law, it means someone who has a particular right because of an office they hold. Is ex officio the same as non-voting? No. Ex officio means holding a position by virtue of having a different position, ...
Learn all about corporate governance. Understand what corporate governance is, learn the structure of corporate governance, and see examples of this concept. Related to this Question What are bylaws for a condo? What is the difference between HOA bylaws and covenants?
Understanding the difference between "Bylaw" and "Law" is crucial. "Bylaws" are more localized and specific, tailored to the needs of a particular group or community. A city might enact bylaws regarding local park usage or noise restrictions. In contrast, "Laws" are broader, often applying ...
Regulatory obligations and entity direction outlined in an organization’s bylaws typically set the framework for a board of trustees. The board can range from three to 30 people and is often divided into subcommittees, which can help to manage target areas of an entity while also providing for...
An S corp is a type of business structure where the business does not pay taxes itself. Instead, the money the business generates is passed on to the business owners who pay personal income tax. This avoids double taxation: the business being taxed and the owners being taxed. An S corp s...