Legal Question in Business Law in New York

The answer is not necessarily. A New York corporation can be shareholder managed if the certificate of incorporation provides for it. In the event the certificate does not provide for it, the certificate would need to be amended. Be mindful that the bylaws would also need to amended if the bylaws don't already provide for shareholder management.

In closed corporations, one person can serve as president, treasurer and secretary.

Feel free to contact my office if you have additional questions.

Roman R. Fichman, Esq.

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