Chapter2 - CG Chapter 2 The significance of constitutions...

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CG Chapter 2 The significance of constitutions for corporate entities Every corporate entity needs a constitution - CG is about the way these corporate entities are governed Corporate entity Members Constitution Governing body Limited liability company Shareholder Memorandum and articles of association Board of directors Professional organization Qualified members of the profession Charter and membership rules Council Local football club Club members Rules Committee Trade Union Registered members Constitution and branch rule books General Executive Council Oxford College Fellows of the College Founding statute or charter Governing body 1) Public limited company o Member’s liability is limited to any amount unpaid on their shares (PLC) 2) Private company o Limited by shared, where member’s liability is limited to the amount unpaid on shared they hold (Ltd) most common incorporation, may not offer shares to the publib 3) Private company o Limited by guarantee, member’s liability is limited to the amount they have
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This document was uploaded on 11/10/2011.

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Chapter2 - CG Chapter 2 The significance of constitutions...

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