Whether at the initial founding stage or for annual meetings and officer elections, a question that comes up a lot is whether the same person can act as President or CEO, Treasurer or CFO, and Secretary, all at the same time, of C Corp, S Corp or LLC.
Generally, the answer is yes. If your company is a single-member LLC or a single-shareholder corporation incorporated in Delaware or California, it is possible for the same person (usually the founder) to be the President, Treasurer, and the Secretary. In some states, it is not possible for the same person to occupy all three positions. Further, the rules are slightly different for non-profits, public benefit, or mutual benefit corporations.
If you are incorporated in a state other than Delaware or California, please contact us if you need a clear answer on this issue.
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