| Formation and Operation of a Nonprofit Corporation |
| Nonprofit corporations are a useful tool for organizing for charitable, educational, religious, literary, or scientific purposes while reducing the risk of individual liability in accomplishing those goals. A nonprofit corporation is often referred to as a 501(c)(3) corporation due to the tax code provision under which most nonprofit corporations are considered exempt from federal taxation.More... |
| CORPORATE DIRECTORS - AN OVERVIEW OF FIDUCIARY RESPONSIBILITIES |
| AN OVERVIEW OF FIDUCIARY RESPONSIBILITIESMore... |
| Fairness Standard and Business Judgment Rule |
| FAIRNESS STANDARD FOR DIRECTORSMore... |
| Reliance on Committee Reports |
| Corporation codes in all states allow the corporate board of directors to appoint committees comprised of directors and to delegate board powers to the committees. Appointment powers are usually addressed in the corporation's articles of incorporation or bylaws, which specify the formalities for appointing a committee. Each state's corporation code must be consulted to determine if certain powers are nondelegable.More... |
| Arbitration of Securities Disputes |
| Although persons may not be required to arbitrate rather than litigate their claims, they may by contract agree to arbitrate any claims that arise under the contract. More... |












