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- Corporations are independent legal entity which has no relation to the actualbeneficiary. It is designed to protect owner property when registered as owner of a specific ship.
- A certificate issued by a proper authority in a (name of company) verify that a corporation actually exists, has paid all its statutory dues, has met all filing requirements and, therefore, is authorized to transact business in that state. Also called certificate of authorization or certificate of existence.
- Corporate records are those records a corporation needs to keep in order to show that it is functioning in the manner required by the Internal Revenue Service in order to show that your corporation is a separate entity and to maintain the corporate shield from liability.
- Minutes are an official record of the proceedings and resolutions of general meetings and directors’ meetings, as well as resolutions passed outside of meetings.
- To dissolve a company means to officially, formally close the business. While ceasing operations is part of this process, there is more to dissolving a business than just locking the front door. Assets and liabilities must be properly dealt with, in much the same way that an executor would settle all assets, debts and affairs of a deceased person.
