Legal Question in Business Law in California
If an S-corp has two equal shareholders can one of them as the only director listed in the meeting minutes hold meetings and make decisions without the knowledge or consent of the other?
Asked on 3/26/13, 11:12 am
1 Answer from Attorneys
Bruce Beal
Beal Business Law
In California, there cannot be only one director is there are two shareholders. There must be at least two directors, so no, the actions you speak of were not valid.
Answered on 3/26/13, 11:14 am
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