Members are corporators of a non-stock corporation.Group of answer choicesTrueFalse
Question
Members are corporators of a non-stock corporation.
- Group of answer choices
- True
- False
Solution
In the context of corporate law, "corporators" typically refer to individuals who are involved in the formation of a corporation; they are essentially the founding members. In a non-stock corporation, which often exists for charitable, educational, or similar purposes rather than for profit, members play a crucial role in governing the organization.
To answer the question:
- Non-stock corporations do have members who participate in decision-making and governance.
- The term "corporators" can include those who are also considered members, depending on the specific framework of the corporation and local laws.
Given that members can indeed be seen as corporators in a non-stock corporation, the answer is:
True.
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