Legal Question in Business Law in California

THese are controlled by the Corrations Code, by the bylaws of the enttiy and by the delegation of authority done by the board of directors. The officers operate under the authority of the Board. We would need to see your entity docuents to advise effectively. In general see California Corporations code section 312.

No. These are essentially officer positions. The CEO, President, etc. can be merely employees with no voting interests or they can be majority shareholders. There are legal standards regards to the kinds of decisions these positions can make on behalf of a company of course in the ordinary course of running the business, but the title all on its own is not dispositive of what any given officer's voting interest is as noted they are appointed by the Board.

I assume you are writing here because you do not have legal counsel at this point. You are advised to consult with a lawyer in private and make sure you are clear on all the relevant issues.

If you would like to discuss further over a free phone consult, feel free to contact me anytime that is convenient.

Our firm is now referred by the American Bar Association (see under the New York section):

http://www.americanbar.org/groups/delivery_legal_services/resources/programs_to_help_those_with_moderate_income.html

Kind regards,

Frank

www.LanternLegal.com

866-871-8655

[email protected]

DISCLAIMER: this is not intended to be specific legal advice and should not be relied upon as such. No attorney-client relationship is formed on the basis of this posting.