How do we fill in Statement of Information for CA corporation when there is one owner?

Asked about 2 years ago - Sun City, CA

Who do we put under officer titles and directors? My husband is the sole owner. Also, when it asks how many vacancies there are on the board of directors, we would put none, as he is the sole director, is that correct?

Attorney answers (3)

  1. Frank Wei-Hong Chen

    Contributor Level 20

    5

    Lawyers agree

    Answered . If your husband is the sole shareholder, he can hold the sole board of director position and all of the officer positions.

    However, as Attorney Doland indicates, your husband ought to consult with a business attorney to make sure all of the corporation formalities have been followed. Otherwise, in the event the corporation ever gets sued, it is possible that the plaintiff will be able to "pierce the corporation veil" and go after your husband individually.

    Frank W. Chen has been licensed to practice law in California since 1988. The information presented here is... more
  2. Michael Charles Doland

    Contributor Level 20

    4

    Lawyers agree

    Answered . The sole owner (shareholder) can be the sole director and can be all officers. I suspect you don't have bylaws. I suspect you don't have an outside "general counsel." Forming and operating a corporaiton is more complex than the "off the shelf" or "do it yourself" vendors have you believe. Finally, unless you issue shares, the benefif of forming a corporation may be lost in the future.

    The above is general legal and business analysis. It is not "legal advise" but analysis, and different lawyers may... more
  3. Mark K. Ameli

    Contributor Level 8

    3

    Lawyers agree

    Answered . The purpose of forming a corporation is to limit your liability and possibly have some tax benefits. In order to take advantage of the above, you have to comply with the formalities of the corporation. if you don't, you will lose the limitation of liabbility and in the event that your corporations gets sued, the other party may be able to "pierce the corporate veil", meaning that the other party may be able to sue you directly. Therefore, it is imperative that if you doubt about what needs to be done, you hire an attorney so that you don't lose the benefits of the corporation. This is the advice that both attorneys before me gave you as well and you should heed it.

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