Corporations Flow Chart PDF

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Corporation Law Structural Flow Chart (Model Business Corporation Act) Business Associations: Professor Gordon Christy

Formation and Organization

Financial Rights

Shareholder Rules Voting and Approval Rights

Management Rights Directors / Officers

Incorporators (§2.01)

Liability of Shareholders (§6.22)

Shareholder Agreements (§7.32)

Articles (§2.02) Incorporation (§2.03)

Authorized Shares Common & Preferred (6.01 / 6.02) Issued & Outstanding (6.03)

*7.32* Shareholder Meetings (§7.01, §7.02, §7.03) Notice of Meeting (§7.05)

Liability for PreIncorporation Transactions (§2.03)

Issuance of Shares & Consideration (6.21)

Record Date (§7.07)

Organization (§2.04)

Share Dividends (6.23)

Conduct of Meeting (§7.08)

Bylaws (§2.06)

Share Certificates Form and Content (§6.25)

Unanimous Written Consent of Shareholders (§7.04)

Purposes (§3.01)

Voting (§7.20, §7.21, §7.22)

Resignation (§8.07)

General Powers (§3.02)

Shares without Certificates (§6.26) Share Transfer Restrictions (§6.27)

Quorum (§7.25)

Removal and Vacancies (§8.08, §8.09, §8.10)

Ultra Vires (§3.04)

Preemptive Rights (§6.30)

Compensation (§8.11)

Corporate Name (§4.01) Reserved Name (§4.02)

Repurchase of Shares (§6.31) Distributions to Shareholders *(§6.40)* Note: Characteristics of Common and Preferred Shares

Election of Directors & Cumulative Voting (§7.28) Voting Agreements (§7.31) Voting Trusts (§7.30)

Registered Name §4.03)

Registered Officer / Agent (§5.01) Service on Corporation (§5.04) See 1.23, 1.28, 1.41

Director’s Liability (§8.33)

Waiver of Notice (§7.06)

Voting on Article Amendments (§10.03 / §10.04) Voting on Bylaw Amendments (§10.20) Voting on Merger (§11.04) Voting on Asset Dispositions (§12.02) Dissolution by Board of Directors & Shareholders (§14.02) Note: Inspection Rights (§16.02 - §16.03)

Board of Directors’ Powers of Oversight (§8.01) Qualification, Number & Election of Directors (election at annual shareholder’s meeting) (§8.02 / §8.03) Class Election (§8.04)

Terms of Office 1-3 Years Reduction in Number (§8.05) Staggered Terms (§8.06)

Management Duties

Merger and Asset Sales

Dissolution and Liquidation By Incorporators or Initial Directors (§14.01) By Board of Directors & Shareholders (§14.02) Articles of Dissolution (§14.03)

Indemnification of Officers (§8.56) Insurance (§8.57)

Standards of Conduct – Directors (§8.30) Director’s Liability (§8.31)

Amendments to Articles Authority to Amend (§10.01) Before Issuance of Shares (§10.02)

Definitions (§11.01)

Limitation (§8.59)

Standards of Conduct of Officers (§8.42)

By Board of Directors and Shareholders (§10.03)

Share Exchange (§11.03)

Special Articles Amendments by Board of Directors (§10.05) Certain Dispositions of Assets (§12.01)

Directors’ Liability for Unlawful Distributions (§8.33) (See §640) Directors’ Conflicting Interest Transactions (§8.60 - §8.63)

Voting on Amendments (§10.04)

Action on a Plan of Merger or Share Exchange (§11.04)

Revocation of Dissolution (§14.04)

By Board of Directors (§10.05)

Merger btw Parent and Subsidiaries or btw Subsidiaries (§11.05) Articles of Merger or Share Exchange (§11.06)

Effect of Dissolution (§14.05)

Inspection of Records (§16.05)

Shareholder Inspection Rights (§16.02, §16.03, §16.04)

Maintenance of Corporate Records Corporate Records (§16.01) Inspection of Records by Shareholders (§16.02) Scope of Inspection Right (§16.03)

Directors’ Meetings (§8.21, §8.22, §8.23, §8.24) Action by Unanimous Written Consent (§8.21) Appointment of Officers (§8.40)

Court-Ordered Inspection (§16.04) Inspection of Records by Directors (§16.05) Exception to Notice Requirement (§16.06)

Functions of Officers (§8.41)

Financial Statements for Shareholders (§16.20) Other Reports to Shareholders (§16.21)

Resignation / Removal (§8.43)

Amendments

Articles of Amendment (§10.06)

Restated Articles of Incorporation (§10.07) Amendment Pursuant to Reorganization (§10.08) Effect of Amendment (§10.09)

Amendments to Bylaws Amendment by Board of Directors or Shareholders (§10.20) Bylaw Increasing Quorum or Voting Requirement for Directors (§10.21)

Merger (§11.02)

Effect of Merger or Share Exchange (§11.07) Abandonment of a Merger or Share Exchange (§11.08) Right to Appraisal and Payment for Shares (§13.01- §13.03) Appraisal Rights (§13.20) Notice of Intent to Demand Payment (§13.21) Appraisal Notice and Form (§13.22)

Perfection of Rights; Right to Withdraw (§13.23) Payment (§13.24)

Contract Rights (§8.44)

After-Acquired Shares (§13.25)

Indemnification: Directors (§8.50, §8.51, §8.52)

Procedure for Dissatisfied Shareholder (§13.26) Judicial Appraisal (§13.30 - §13.31)

Advances of Expenses (§8.53)

Known and Other Claims Against Dissolved Corporations (§14.06 - §14.07) Court Proceedings (§14.08) Director Duties (§14.09) Grounds for Administrative Dissolution (§14.20) Procedure & Effect (§14.21) Reinstatement after Administrative Dissolution (§14.22) Appeal from Denial of Reinstatement (§14.23) Grounds and Procedure for Judicial Dissolution (§14.30 - §14.31) Receivership or Custodianship (§14.32) Decree of Dissolution (§14.33) Election to Purchase in Lieu of Dissolution (§14.34)...