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Encyclopedia > Directors register

In corporate law, the directors register is a list of the directors elected by the shareholders, generally stored in the company's minute book. By law, companies are required to keep this list up to date to remove those directors who are deceased or resign, and to add those who have been elected by the shareholders. However, the register must also list any person who had been a director indefinitely. The record must indicate the dates a director started and stopped holding office. As directors carry certain personal legal obligations to a corporation (for example, being responsible for any money held in trust for another person, e.g. sales taxes not remitted to a government), those seeking recourse against directors are allowed to rely on the directors register as proof that a director held office on any particular day. Corporations law or corporate law is the law concerning the creation and regulation of corporations. ... Generally a director is a person or one of a body of persons appointed to manage the affairs of a government agency, company, corporation, group or project. ... A shareholder or stockholder is an individual or company (including a corporation), that legally owns one or more shares of stock in a joint stock company. ... The term trust has several meanings: In general, trust refers to an aspect of a relationship between two parties, by which a given situation is mutually understood, and commitments are made toward actions in favor of a desired outcome. ... A sales tax is a tax on consumption. ...


In many jurisdictions, corporations are required to keep the list of directors up to date with the corporate affairs office where the corpororation was incorporated. This is so that both government agencies and interested third parties may be aware of the name and address of directors (for example, in order to serve a statement of claim on the corporation).


Publicly traded corporations are usually required to notify the appropriate securities and exchange commission about any change to their directors register.


  Results from FactBites:
 
UK Limited Company Records & Files. Branch Registers. Register of Bearer Shares. Minute Books (7505 words)
The register of directors' interests in shares and debentures of the company MUST be kept either at the company's registered office or at the place where the register of members is kept.
The register of charges kept by the company should not be confused with the register to be kept by the Registrar of Companies under Section 401 and Section 417 relating to particulars of charges sent to the Registrar of Companies under the provisions of Sections 395-408 and 410-423 respectively.
The register must be open to inspection on similar terms to those applicable to the register of directors and secretaries.
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