Answer to Question #186186 in Law for Bornface Kandunda

Question

List the rules that govern payments to members of a Close Corporation.

Answer 1

A Close Corporation may have a minimum of one member or a maximum of 10 members. However there are no limitations in respect of the number of employees in a Close Corporation. If a member of a Close Corporation (CC) is under 21, the registration document must be signed by a parent or guardian.