Corporation Flashcards
(6 cards)
1
Q
Where does a corporation need to be registered?
A
With the DOS and the DBPR
2
Q
What is a corporation?
A
An artificial person considered to have an existence of its own; separate from the officers and directors.
3
Q
Who are the owners in a corporation?
A
Stockholders who elect the board of directors.
4
Q
What do the officers in a corporation do?
A
Carry out the directives of the board.
5
Q
How many active brokers do you need in a corporation? What position should they hold?
A
- At least one active broker
- Officer or director
6
Q
What higher positions in a corporation can sales associates and broker sales associates hold? What higher positions can they not hold?
A
- They can be shareholders
- They cannot be officers or directors.
