When does a corporation need a board of directors?

Expert Solution

Answer - A Corporation needs a panel of experts who are enriched with knowledge , experience and expertise to run the corporation in a successful manner and also comply with the various laws and regulations a corporation should adhere to ,like dividend laws , corporate goverance norms, and other tax regulations to complied with.,in order to survive and succeed in the competitive corporate world

Also abiding by the holding the laws of holding annual general meetings , presenting reports and statement of accounts and preparing minutes ,also complying with various regulations like limit of directors, their appointment , reappointment, retirement ,all need predetermined mix of executive and non executive directors, and some of whom should be independent to have related area of knowledge and expertize.

jeff jeffy answered 3 years ago

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