Decisions regarding business structure and governance can have great benefits for a company, but can also have tax and liability consequences. These questions can involve what business organization to choose, how to write and observe bylaws and article of incorporation, how the Board of Directors operate, what to think about when purchasing Director & Officer liability insurance, and what steps to take when creating a joint venture. The Corporate Governance section of FindLaw's Corporate Counsel Center provides information on these questions and addresses Business Organization, Mergers and Acquisitions (M&A), Insurance and more. Find out more about these important issues in our Corporate Governance section.
Utmost Good Faith: Follow the Fortunes, The Theory and The Reality: What Are the Implications for Cedents and For Reinsurers?
The standard of utmost good faith is not limited to the underwriting or contract formation phase of the reinsure/cedent relationship. Rather, the obligation of utmost good faith carries through to the parties' relationship into the claims-handling phase. Learn more now in this article.
In Zoppo v. Homestead Insurance Company, (1994), 71 Ohio St. 3d 552, the Ohio Supreme Court clarified the standard to be applied in determining whether or not an insurance company has acted in bad faith. Read this article to learn more about the court's ruling.
Absent special circumstances, few insurers would elect to have any of its policy rights waived, particularly, the right to demand from an insured a sworn statement in proof of loss. Learn more about the right to demand proof of loss in this article.
California Conforms to the Federal Check-the-Box Regulations (Mostly), and to the S Corporation Rules . . . Single-Member LLC
Over the past year there have been significant changes to the federal income tax treatment of partnerships and limited liability companies ("LLCs"), and to S corporations. Recently, California enacted changes to its tax laws to conform to these changes. Read on to learn more.
This article outlines basic parameters of the Fee in Lieu of Taxes ("FILOT") and Special Source Revenue Bond programs in South Carolina. Each of these has the net effect of reducing the burden of property taxes for qualifying businesses.