Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Can the same person be the shareholder, director and all the administrators of a corporation?

April 26, 2017administrators corporation director person shareholder

0

Posted

Can the same person be the shareholder, director and all the administrators of a corporation?

1 Answer

0

Posted

While different jurisdictions may have distinct stipulations, most states require at least one director and two administrators in a general for-profit corporation. The required officers are the president and the secretary. Most states allow one person to hold both positions and be the exclusive director of the corporation. Generally, that person can also be the exclusive shareholder. A corporation cannot be the director of another corporation.