West Virginia Code 31E-1-152 – Number of members
Current as of: 2023 | Check for updates
|
Other versions
(a) For purposes of this chapter, the following identified as a member in a corporation's current record of members constitutes one member:
Terms Used In West Virginia Code 31E-1-152
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Entity: includes corporation and foreign corporations. See West Virginia Code 31E-1-150
- Member: means a person having membership rights in a corporation in accordance with the provisions of its certificate of incorporation or bylaws. See West Virginia Code 31E-1-150
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: includes , but is not limited to, an individual and an entity. See West Virginia Code 31E-1-150
(1) Three or fewer coowners;
(2) A corporation, partnership, trust, estate, or other entity; or
(3) The trustees, guardians, custodians, or other fiduciaries of a single trust, estate, or account.
(b) For purposes of this chapter, interests registered in substantially similar names constitute one member if it is reasonable to believe that the names represent the same person.