How do People Become Officers?
The rules governing the appointment, functions, duties, removal and remuneration of officers are found in the corporation’s By-Laws. These By-Laws need not be approved by the shareholders in order to have effect and thereby protect third parties who conduct business with the corporation through its officers. The directors are most often responsible for appointing the officers. They usually do so during the board of directors’ meeting which immediately follows the annual shareholders’ meeting.
Related Questions
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