US Legal Forms
Adoption of Stock Option Plan of WSFS Financial Corporation

Option Corporation

Name: Adoption of Stock Option Plan of WSFS Financial Corporation
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.83 (307 reviews)

Category:

Corporations - Public - Stock Options

State:

Multi-State

Control #:

US-CC-18-351I-NE

Format:

Instant download

Description

This is a multi-state form covering the subject matter of the title.

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FAQ

Ownership is the major difference between a for-profit business and a nonprofit organization. For-profit businesses can be privately owned and can distribute earnings to employees or shareholders. But nonprofit organizations do not have private owners and they do not issue stock or pay dividends.

A non-corporate shareholder is a person or partnership that owns shares in a corporation. This distinctions is easy enough, but in practice, it creates several tax, corporate governance, and legal issues that investors should be aware of.

A non-stock corporation is a corporation that does not have owners represented by shares of stock.Instead, a non-stock corporation typically has members who are the functional equivalent of stockholders in a stock corporation (they have the right to vote, etc.)

A Non-Stock Corporation is basically a corporation that does not issue shares of stock. It can be formed as either a for-profit or non-profit corporation. Since the Non-Stock Corporation has no shareholders, it is owned by its members meaning a member-owned corporation that does not issue shares of stock.

After all, corporations need to have boards of directors and hold shareholder meetings -- which sounds more like a room full of suits than a single person working from home. However, all states do allow corporations to have just one owner. You can be the sole shareholder, director and officer for your company.

Incorporators are those stockholders or members mentioned in the Articles of Incorporation as originally forming and composing the corporation, and who are signatories thereof. Each incorporator of a stock corporation must own, or be a subscriber to, at least one share of the capital stock.

Yes. All states allow a single shareholder to create and run a corporation. And all states allow it to have just one director as well. So you can be the sole shareholder, director and officer for your company.

Taxes. Corporations must file their annual tax returns. Securities. Corporations must issue stock as their security laws and articles of incorporation mandate. Bookkeeping. Board meetings. Meeting minutes. State registration. Licensing.

The first difference is purpose. Stock corporations are organized for profit to be enjoyed by stockholders.In stock corporations, profits are declared and they are distributed to stockholders. On the other hand, profits in non-stock corporations are not so distributed but used to further its own purposes.

Option Corporation

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Who owns a nonprofit corporation?

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