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Question
Answer in one sentence:
Which individuals cannot become a member of a company?
Solution
Individuals like minor, insolvent person, insane/lunatic person and Foreigner (if the provisions of the Foreign Exchange Management Act, 1999 do not allow to become a member) cannot become a member of the company.
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RELATED QUESTIONS
Select the correct answer from the options given below and rewrite the statement:
A person can be called as a Member when the name is entered in ________
Select the correct answer from the options given below and rewrite the statement:
A member has the right to participate in General Meetings means, he has a right to ________
Write a word or a term or a phrase which can substitute the following statement:
The subscribers of this document are considered as Members of the company.
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Both, individuals and body corporate can be members of the company.
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Legal competency to enter into contracts is one of the criteria to become a member of the company.
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Limited Liability Partnership cannot be a member of the company
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Members of the company can attend general and Board meetings of the company.
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Minor can be the member of the company
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Karta of HUF can be a member of the company.
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Member of the company is conferred with several rights.
Find the odd one:
Select the correct option form the bracket.
| Group A | Group B |
| Minor | ___________ |
Select the correct option form the bracket.
| Group A | Group B |
| Co-operative | ___________ |
Select the correct option form the bracket.
| Group A | Group B |
| ___________ | Can hold shares in the name of partners |
Answer in one sentence:
What is the common way of becoming a member of a company?
Explain the following Term/Concept.
Transmission of Shares
Justify the following statement.
Member and Shareholder are interchangeable terms.
Justify the following statement.
Nominee of the member of OPC becomes its member of the death of the member.
