Out of Corporation
1 Out of Corporation on Wed Feb 12, 2014 3:57 am
2 Re: Out of Corporation on Tue Feb 18, 2014 8:05 pm
Further, if ALL your shares of stocks are sold, the following are the implications:
1. Removal from directorship;
2. You can get your respective share in equivalent monetary value;
3. Removal of your name/ownership in the stock and transfer book;
4. Although your name will not be removed from the list of incorporators as submitted in SEC, but theres no need to worry for that. (This will appy only if you are an incorporators)
5. The remaining directors will call an election to fill up the vacancy.
6. The corporation can still operate notwithstanding the vacancy of 1 director. This is only an internal matters that can be remedied easily.
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