Business Laws : How to Form a Board of Directors

Business Laws : How to Form a Board of Directors

You have just incorporated a business and
now you have got to put together a board of directors. Hello, I’m Robert Todd, and I’m
here to answer the question, how to form a board of directors? Well first of all, what
governs a board of directors is generally state laws and it’s going to vary from state
to state, so you want to first check your particular state statutes involving corporations
and what’s required with board of directors. The next thing is, consider this as both a
legal and a practical question. The bylaws in your particular corporation are going to
determine the number of directors you can have, the length of terms that these board
of directors are going to serve and the particular office or positions, and when meetings are
going to be held, and you’re going to have to comply with particular bi-laws of your
corporation. And from a practical standpoint, when you want to invite individuals to become
board members, you want to think, do I need financial savvy, get an accountant, do I need
someone that’s good with personnel, get a good human resource person, and these are
the types of considerations to consider. I’m Robert Todd, and thank you for watching.

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