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Q.How many directors do I need to form a corporation?
A.In most states, only one director is required. However, other states use the number of shareholders in the corporation to determine the minimum number of directors. In other words, if the number of shareholders is three or more, then the corporation must have a minimum of three directors; if the corporation has less than three shareholders, then the number of directors must equal the number of shareholders. This rule applies in: AR, CA, HI, LA, ME, MD, MA, MO, NY, OH, UT, and VT.
Often in small business corporations and closely held corporations, a shareholder will serve on the board of directors and as an officer. In fact, most smaller corporations are in fact run by only one person who serves as the sole shareholder, sole director, and holds all of the officer positions.
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