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#133884 - 11/24/03 09:02 PM Only one Corporate Owner
Anonymous
Unregistered

Okay...I have searched and searched and can't find the answer to my question: In the State of Texas....is there a requirement that a corporation have more than one officer.
The reason: We have a resolution authorizing this one signer and witnessed by the same signer. She witnessed her own signature??????? This is for a loan , so I am concerned.

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#133885 - 11/24/03 09:12 PM Re: Only one Corporate Owner
RBanker Offline
Power Poster
RBanker
Joined: Jul 2003
Posts: 2,675
Austin Texas
Only one corporate officer is not a problem - have seen that several times - my concern, like you, would be her witnessing her own signature. I would think anyone with some common sense would see that as a problem. Does she not have her articles? Typically those are signed/witnessed by the Organizer. Did you try the Comptrollers web site - there might be info there as to officers, but that is not a be all/end all, just a tool to maybe help you.
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#133886 - 01/05/04 12:25 PM Re: Only one Corporate Owner
Anonymous
Unregistered

According to the laws in the State of Texas a corporation can be owned by one person. I share your concern with witnessing of her own signature. It does not take a bright person to realize that you do not witness your own signature. Berfore proceeding with a loan I suggest you request Articles of Incorporation, a detailed business plan paying close attention marketing and income projections, and require an audit of her books by CPA if not provided.

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