Legal Question in Construction Law in California

Re: corperation laws

Three positions must be filled, but any number including all three can be held by the same person. The three essential positions are:

(1) A president or CEO;

(2) A secretary; and

(3) A treasurer or CFO.

Thus it is possible to have a truly one-person corporation.

Note that a corporation also needs a board of directors. If there are three or more stockholders, it must have at least three directors. If it has two stockholders, it must have at least two directors. Finally, if there is but one stockholder, the corporation may have just one director.

Officers are appointed by the board of directors. Directors are elected by the stockholders.