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Corporation & officers

 
 
View Profile Josephk
 
Reply Mon 18 Aug, 2008 10:07 am
How is an officer in a corporation connected to that corporation?
 
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Reply Mon 18 Aug, 2008 12:50 pm
Not sure what you mean, and I'm an officer in a corporation. So can you ask more specifically?
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View Profile Foxfyre
 
  2  
Reply Mon 18 Aug, 2008 01:44 pm
The officer may or may not be an owner/stock holder in the corporation, but the title, no matter what it is, does carry a legal liability. The officers will be named in a lawsuit, and wise officers carry special insurance to protect themselves personally against successful lawsuits filed against the corporation. The officer may have a great deal of responsibility in policy and day to day management or none at all, but he/she has responsibility for certain processes and procedures such as being sure that taxes are properly paid and codes and regulations are followed. The officer's signature, depending on what office he/she holds, can be required on certain legal documents.
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