Understanding Business and Personal LawChapter 29:
Operating a CorporationChapter OverviewsReady to Learn?
Corporations are managed by a group of directors, who meet and vote as a board to set policy. Corporate officers are appointed by and can be removed by the corporation’s directors. Usually the shareholders elect and remove directors. The shareholders are both the owners and investors in the corporation. A corporation’s directors and officers have a fiduciary relationship with the corporation. The corporation’s officers’ fiduciary duties are similar to those of agents. When studying this chapter, you will learn about corporate management as well as the duties of corporate managers as they conduct their business.  | 
