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Delaware General Corporation Law
The Delaware General Corporation Law (Title 8, Chapter 1 of the Delaware Code) is the statute of the Delaware Code that governs corporate law in the U.S. state of Delaware. Adopted in 1899, the statute has since seen Delaware become the most important jurisdiction in United States corporate law. Delaware is considered a corporate haven because of its business-friendly corporate laws compared to most other U.S. states. Over half of publicly traded corporations listed in the New York Stock Exchange (including its owner, Intercontinental Exchange) and 66% of the ''Fortune'' 500, including Walmart, the world's largest company by revenue, are incorporated (and therefore have its domicile for service of process purposes) in the state. History Delaware acquired its status as a corporate haven in the early 20th century. Following the example of New Jersey, which enacted corporate-friendly laws at the end of the 19th century to attract businesses from New York, Delaware adopted on M ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Statute
A statute is a formal written enactment of a legislative authority that governs the legal entities of a city, state, or country by way of consent. Typically, statutes command or prohibit something, or declare policy. Statutes are rules made by legislative bodies; they are distinguished from case law or precedent, which is decided by courts, and regulations issued by government agencies. Publication and organization In virtually all countries, newly enacted statutes are published and distributed so that everyone can look up the statutory law. This can be done in the form of a government gazette which may include other kinds of legal notices released by the government, or in the form of a series of books whose content is limited to legislative acts. In either form, statutes are traditionally published in chronological order based on date of enactment. A universal problem encountered by lawmakers throughout human history is how to organize published statutes. Such publications h ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Certificate Of Incorporation
A certificate of incorporation is a legal document/license relating to the formation of a company or corporation. It is a license to form a corporation issued by state government or, in some jurisdictions, by non-governmental entity/corporation. Its precise meaning depends upon the legal system in which it is used. Commonwealth systems In the U.S. a certificate of incorporation is usually used as an alternative description of a corporation's articles of incorporation. The certificate of incorporation, or articles of incorporation, form a major constituent part of the constitutional documents of the corporation. In English and Commonwealth legal systems, a certificate of incorporation is usually a simple certificate issued by the relevant government registry as confirmation of the due incorporation and valid existence of the company. In other common law legal systems, the certificate of incorporation has less legal significance. However, it has been held by the House of Lords ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jack Markell
Jack Alan Markell (born November 26, 1960) is an American politician who currently serves as the United States ambassador to the Organisation for Economic Co-operation and Development. He previously served as the 73rd governor of Delaware from 2009 to 2017. He is a member of the Democratic Party. Markell served three terms as the state treasurer of Delaware from 1999 to 2009. After term-limited Governor Ruth Ann Minner was prevented from running for reelection, Markell announced his intention to run. He defeated lieutenant governor of Delaware John Carney with 51% of the vote in the Democratic primary, and defeated the Republican nominee, former Delaware Superior Court judge William Swain Lee, with 67% of the vote in the 2008 general election, becoming Delaware's first Jewish governor. Markell won reelection in 2012 by a margin of over 40%. Early life and education Markell was born and raised in Newark, Delaware, the son of Elaine "Leni", a social worker, and William Markell ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jeffrey W
Jeffrey may refer to: * Jeffrey (name), including a list of people with the name * ''Jeffrey'' (1995 film), a 1995 film by Paul Rudnick, based on Rudnick's play of the same name * ''Jeffrey'' (2016 film), a 2016 Dominican Republic documentary film *Jeffrey's, Newfoundland and Labrador, Canada *Jeffrey City, Wyoming, United States *Jeffrey Street, Sydney, Australia * Jeffrey's sketch, a sketch on American TV show ''Saturday Night Live'' *'' Nurse Jeffrey'', a spin-off miniseries from the American medical drama series ''House, MD'' *Jeffreys Bay, Western Cape, South Africa People with the surname * Alexander Jeffrey (1806–1874), Scottish solicitor and historian * Charles Jeffrey (footballer) (died 1915), Scottish footballer * E. C. Jeffrey (1866–1952), Canadian-American botanist *Grant Jeffrey (1948–2012), Canadian writer *Hester C. Jeffrey (1842–1934), American activist, suffragist and community organizer *Richard Jeffrey (1926–2002), American philosopher, logician, and pro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Economist
''The Economist'' is a British weekly newspaper printed in demitab format and published digitally. It focuses on current affairs, international business, politics, technology, and culture. Based in London, the newspaper is owned by The Economist Group, with its core editorial offices in the United States, as well as across major cities in continental Europe, Asia, and the Middle East. In 2019, its average global print circulation was over 909,476; this, combined with its digital presence, runs to over 1.6 million. Across its social media platforms, it reaches an audience of 35 million, as of 2016. The newspaper has a prominent focus on data journalism and interpretive analysis over original reporting, to both criticism and acclaim. Founded in 1843, ''The Economist'' was first circulated by Scottish economist James Wilson to muster support for abolishing the British Corn Laws (1815–1846), a system of import tariffs. Over time, the newspaper's coverage expanded further into ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Franchise Tax
A franchise tax is a government levy (tax) charged by some US states to certain business organizations such as corporations and partnerships with a nexus in the state. A franchise tax is not based on income. Rather, the typical franchise tax calculation is based on the net worth of or capital held by the entity. The franchise tax effectively charges corporations for the privilege of doing business in the state. Nexus Whether or not a business must pay a franchise tax to a state in which it does business can cause some confusion. Some states report using both the economic and physical presence tests, and in some states, there are no written, public interpretations of their test at all.Baker Tilly, 2016 Midyear State and Local Tax Update. http://www.bakertilly.com/insights/midyear-state-and-local-tax-update-income-and-franchise-taxes/ Physical presence test The physical presence test is based on Quill Corp. v. North Dakota, ( 504 U.S. 298 (1992)), a United States Supreme Court rul ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lost, Mislaid, And Abandoned Property
Lost, mislaid, and abandoned property are categories of the common law of property which deals with personal property or chattel which has left the possession of its rightful owner without having directly entered the possession of another person. Property can be considered lost, mislaid or abandoned depending on the circumstances under which it is found by the next party who obtains its possession. There is an old saying that ''possession is nine-tenths of the law'', perhaps dating back centuries. This means that in most cases, the possessor of a piece of property is its rightful owner without evidence to the contrary. More colloquially, this may be called finders, keepers. The contradiction to this principle is theft by finding, which may occur if Conversion (law), conversion occurs after finding someone else's property. The rights of a finder of such property are determined in part by the status in which it is found. Because these classifications have developed under the common ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Income Tax
An income tax is a tax imposed on individuals or entities (taxpayers) in respect of the income or profits earned by them (commonly called taxable income). Income tax generally is computed as the product of a tax rate times the taxable income. Taxation rates may vary by type or characteristics of the taxpayer and the type of income. The tax rate may increase as taxable income increases (referred to as graduated or progressive tax rates). The tax imposed on companies is usually known as corporate tax and is commonly levied at a flat rate. Individual income is often taxed at progressive rates where the tax rate applied to each additional unit of income increases (e.g., the first $10,000 of income taxed at 0%, the next $10,000 taxed at 1%, etc.). Most jurisdictions exempt local charitable organizations from tax. Income from investments may be taxed at different (generally lower) rates than other types of income. Credits of various sorts may be allowed that reduce tax. Some jurisdicti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Internal Affairs Doctrine
The internal affairs doctrine is a choice of law rule in corporations law. Simply stated, it provides that the "internal affairs" of a corporation (e.g. conflicts between shareholders and management figures such as the board of directors and corporate officers) will be governed by the corporate statutes and case law of the state in which the corporation is incorporated, sometimes referred to as the ''lex incorporationis''.VantagePoint Venture Partners 1996 v. Examen, Inc.'' 871 A.2d 1108, 1112-1113 (2005). Practical effects of the doctrine The internal affairs doctrine ensures that such issues as voting rights of shareholders, distributions of dividends and corporate property, and the fiduciary obligations of management are all determined in accordance with the law of the state in which the company is incorporated. On the other hand, the "external affairs" of a corporation, such as labor and employment issues and tax liability, are typically governed by the law of the state i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Office Of The Comptroller Of The Currency
The Office of the Comptroller of the Currency (OCC) is an independent bureau within the United States Department of the Treasury that was established by the National Currency Act of 1863 and serves to charter, regulate, and supervise all national banks and thrift institutions and the federally licensed branches and agencies of foreign banks in the United States. The acting Comptroller of the Currency is Michael J. Hsu, who took office on May 10, 2021. Duties and functions Headquartered in Washington, D.C., it has four district offices located in New York City, Chicago, Dallas and Denver. It has an additional 92 operating locations throughout the United States. It is an independent bureau of the United States Department of the Treasury and is headed by the Comptroller of the Currency, appointed to a five-year term by the President with the consent of the Senate. The OCC pursues a number of main objectives: * to ensure the safety and soundness of the national banking system; * ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Usury
Usury () is the practice of making unethical or immoral monetary loans that unfairly enrich the lender. The term may be used in a moral sense—condemning taking advantage of others' misfortunes—or in a legal sense, where an interest rate is charged in excess of the maximum rate that is allowed by law. A loan may be considered usurious because of excessive or abusive interest rates or other factors defined by the laws of a state. Someone who practices usury can be called a ''usurer'', but in modern colloquial English may be called a ''loan shark''. In many historical societies including ancient Christian, Jewish, and Islamic societies, usury meant the charging of interest of any kind, and was considered wrong, or was made illegal. During the Sutra period in India (7th to 2nd centuries BC) there were laws prohibiting the highest castes from practicing usury. Similar condemnations are found in religious texts from Buddhism, Judaism (''Loans and interest in Judaism, ribbit'' in He ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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