Can the same person be the shareholder, director and officers of a corporation?
In the case of a nonprofit corporation, the Texas Nonprofit Corporation Act requires that there be at least three directors in a nonprofit corporation. The required officers of a nonprofit corporation are a President and a Secretary; however, the same person cannot hold the offices of President and Secretary. Only an individual may serve as a director of a corporation.
The Texas Business Corporation Act requires that there be at least one director in a corporation and two officers. The required officers are a President and a Secretary. One natural person may hold both offices and be the sole director. That one person may also be the sole shareholder. A corporation may not be a director of another corporation. In the case of a non-profit corporation, the Texas Non-Profit Corporation Act requires that there be at least three directors in a non-profit corporation. The required officers of a non-profit corporation are a President and a Secretary; however, the same person cannot hold the offices of President and Secretary. Only an individual may serve as a director of a corporation. 13. Do I need to publish a notice before incorporating a business? The Texas Miscellaneous Corporation Laws Act requires only that an existing unincorporated business which intends to incorporate without a change in its name publish its intent to incorporate in the local newsp
