Unanimous Member Agreement

A WBU is any legitimate written agreement signed by all members of a non-recruiting corporation that restricts all or part of the powers of directors to manage or supervise the activities and affairs of the corporation. [1] An AMU may be adopted by special decision of the members (unless otherwise provided)[2]. The first members of a company are usually approved by decision of the directors at their first meeting. The first members are admitted to this meeting and new members may be admitted from time to time. Directors may also delegate the authority to grant members to a committee or senior officers of the corporation. A director`s mantle can be quite heavy, especially in a smaller organization, where everyone takes on a greater share of responsibility. . . .

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