Organizational Information Governing agreements establish contractual relationships among the members of the business. They are not intended for use or reference by third parties. With a handful of exceptions, state governments do not require filing them with the Secretary of ...

Unfortunately, there may come a time when a debtor is unable to pay the creditor and legal action ensues. In most of these cases, the litigation follows the basic civil procedure rules; that is, the filing of a complaint, followed ...

Most debtor-creditor law exists on the state level as contract or tort law and is under state jurisdiction. But the federal government has also stepped into this area and created laws and enforcement agencies to deal with large consumer debt ...

A lien is a creditor’s security interest in the property of a debtor for the satisfaction of a debt or duty that arises under the law.[1] State laws allow the creation of several different kinds of liens on property. Liens can ...

Debt is a very important part of our economy. Nearly every American owes some kind of debt to someone else. These debts come in all shapes and sizes -- home mortgages, credit cards, automobile loans or leases, apartment leases, medical ...

Under federal tax law, stocks are capital assets.[1] When stocks are disposed of through a sale, taxes must be paid on gains realized from the sale. This is referred to as a capital gains tax.[2] Capital gains can be long-term or short-term, and these two ...

A stock is a type of property and, so, can be transferred freely unless transfer is prohibited by law or contract. If there are contractual limitations on the transfer of shares, they must be stated in the company’s articles of incorporation ...

The terms “broker” and “dealer” are defined under the Securities Exchange Act of 1934. Under the Exchange Act, a broker is defined as “any person engaged in the business of effecting transactions in securities for the account of others.” [1] The Exchange Act ...

Stockholders enjoy certain intrinsic rights that stem from their ownership of a company’s stock. The nature and scope of these rights are defined by documents such as the articles of incorporation, bylaws and provisions of the stock certificate. Together, these ...

Tens of millions of Americans are directly or indirectly invested in the stock market, often relying on some form of stock ownership to save for retirement and to build wealth.[1] Still, many do not understand the basic nature of stock ...