The most common are the president, vice president, secretary and treasurer. The president usually makes decisions of corporate policy and operations. The vice president assumes the president's functions in his or her absence.
If the articles of organization or bylaws do not define the size of the board of directors, the Massachusetts default rules apply: if the corporation has three or more shareholders, the corporation must have no fewer than three directors.
The officers of every corporation shall consist of a president, a treasurer and a clerk and such other officers as the corporation by its by-laws shall authorize.
Shareholders: owners of the company who have exchanged assets for shares of stock. Directors: appointed by shareholders to oversee the management of the corporation. Officers: appointed by directors to manage the day-to-day activities of the company.
LLC Members can assign any titles they prefer to Managers or Managing-Members. While “President” is the most popular title for an LLC's top manager, “CEO” is another option that can be held by an LLC Member if they wish.
The corporate officers are high-level management executives. They have responsibility for carrying out the board's initiatives and policies through their day-to-day decisions and management of the company. Unless prohibited by the corporation's bylaws or state law, officers may also be shareholders or directors.
As an LLC, your company may decide to appoint corporate officers, such as a president, vice president, or treasurer, to handle certain jobs or tasks within the company.
The hands-on, day-to-day work is carried out by the officers of a corporation, usually including a president, secretary and treasurer. Some corporations may use titles such as chief executive officer and chief financial officer for these roles, and round out the executive team with other officers as needed.
In LLCs, officers are roles designated to manage specific business functions. Common titles include: President or CEO: Often responsible for overall strategy and day-to-day operations. Treasurer or CFO: Manages the financial health, including budgeting, taxes, and financial reporting.
Request a copy of the articles of organization that defines how the LLC is physically run on day-to-day basis. Read through the document to determine that the LLC indeed does have one or more officers. Request annual member meeting minutes in which members voted on officers.