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uscity.net internet business directory

We can write about anything we want on the net these days. We are interested in finding the business information that is relevant to regular people, professionals and others. We will not bore you with technical language. We will just tell it like we see it and let the chips fall where they may. You will either love us or hate us but atleast if you read with us you will be more informed.

  Our
                    corporation will be organized under Oklahoma law as a
                    Chapter ‘S’ for-profit organization. We will have less
                    then 20 shareholders, and 3 board members and 5 officers.
                    Any of which can serve in any capacity, even in more than one position.

 (See Management TeamPlan) 

                   This will exempt our company from paying taxes twice,
                    once at the corporate level and again at the shareholder
                    level. All taxes will be deferred to the shareholders. They
                    will pay taxes on all dividends and distributions earned on
                    their shares if and when the board of directors declares a
                    profit. Officers and board members will be prohibited from
                    owning or holding stock to avoid certain conflicts of
                    interest and insider trading. The
                  company will be controlled by the board of directors as
                  opposed to the traditional stock holders. Stock holders will
                  be prohibited from participating in the daily decisions and
                  affairs of the business, in order to allow the board and officers to make business decisions in the
                  best interest of the company without the pressure of feeling
                  the need to compete in a popularity contest. Our company will
                  be authorized to issue 500,000 shares of callable cumulative
                  preferred stock and 2,000,000 callable non-cumulative shares
                  of common stock. The preferred shares will pay a dividend of
                  4.25% annual per share. The common shares will pay 4.75% annually at
                  a par value of $0.20 per share. This
                    corporations’ board of directors shall hold all board
                    meetings for decision making and appointment of officers at
                    least monthly or as needed. All meetings shall be presided
                    over by the President and Vice-President who have voting
                    powers. The Chair-Persons’ vote counts as two and all
                    other director votes count as one. The presidents’ vote
                    counts as two and the Vice-Presidents’ counts as one. One
                    person may hold a position as an officer and also as a board
                    member and exercise the voting powers of both. The
                    Vice-Presidents’ position shall be held at the sole
                    discretion of the President. 

 

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