Council Wants More Oversight Of Abia Hotel Operator, Other Local Government Corporations
A bank or trust company incorporated under the laws of this state that acts as depository of the bond proceeds or of revenues may furnish indemnifying bonds or pledge securities as required by the corporation. The act of a majority of the directors present at a meeting at which a quorum is present is an act of the board of directors, unless the act of a larger number is required by the certificate of formation or bylaws of the corporation. If the board of directors determines that sufficient provision has been made for the full payment of the corporation’s expenses, bonds, and other obligations, any net earnings of the corporation subsequently accruing shall be paid to the corporation’s authorizing unit.
Like public-purpose corporations, such as public libraries and adult day centers, quasi-public corporations are created to benefit the public in some way. These private-operating companies are presented with a government-chartered mission and, in exchange for their services, usually receive some form of partial funding from the state. The secretary of state shall keep a record of each process, notice, and demand served on the secretary of state under this subtitle and shall include in the record the time of the service and the secretary of state’s action in response to the service. If a corporation’s name is changed by amendment to the certificate of formation, a suit brought by or against the corporation under its former name does not abate for that reason. The provisions of this subtitle relating to other bonds govern the issuance, maturities, and other details of the refunding bonds, the rights of the holders of the refunding bonds, and the rights, duties, and obligations of the corporation with respect to the same to the extent those provisions may be applicable. A mortgage to secure bonds may also provide that, in the event of a default in the payment of the bonds or a violation of another agreement contained in the mortgage, the mortgage may be foreclosed and the mortgaged property may be sold in any manner permitted by law.
Basically, the theory went, since the internet allowed for the existence of so many outlets, it would be impossible to capture them all. And, scholars surmised, the increased competition might even lead to higher-quality news. So essentially there’s a cooling-off period in which generally the senior employees of Congress and the federal government at large are supposed to not be able to go back and lobby their former associates for one year.
When the left cries that corporations are not people, what they mean is that corporations should not be able to claim the constitutional rights that human beings can. Remember, the opposite of a constitutional right is a government power. If corporations have no rights, then governmental power in connection with corporations is at its maximum.
A corporation’s registered office may, but is not required to be, the same as the corporation’s principal office. On the issuance of the certificate evidencing the filing of the certificate of amendment, the amendment becomes effective and the certificate of formation is amended accordingly. Unless required by the corporation’s bylaws, notice or waiver of notice of a board meeting is not required to specify the business to be transacted at the meeting or the purpose of the meeting.
In addition to the enumeration of corporations provided in the GCCA, there have been several other listings of corporations available, each different and based upon the definition employed by the compiler. The U.S. Code does not provide a single definition of the term “government corporation.” Title 5 of the U.S. Code defines a “government corporation” as “a corporation owned or controlled by the Government of the United States” (5 U.S.C. 103). Dentons is a global legal practice providing client services worldwide through its member firms and affiliates. This website and its publications are not designed to provide legal or other advice and you should not take, or refrain from taking, action based on its content.