![]() Hopefully this answers your question - it's a very interesting thing and most people don't know it's a rule. ![]() Under Sections 170 and 173 of the Delaware General Corporation Law (the DGCL), dividends may only be paid out of either the corporation’s “surplus” (as defined in the DGCL) or when there is no such surplus, “out of its net profits for the fiscal year in which the dividend is declared and/or the preceding year” (the so-called “nimble dividend”). If you want to ignore the above, this article sums it up nicely and uses Delaware law, which, in hindsight, would have probably been a better source of law for me to cite:ĭelaware. ![]() (1) Upon payment to the corporation of any amount of an improper dividend or distribution, to be subrogated to the rights of the corporation against shareholders who received such dividend or distribution with knowledge of facts indicating that it was not authorized by section 510, in proportion to the amounts received by them respectively. (a) Directors of a corporation who vote for or concur in any of the following corporate actions shall be jointly and severally liable to the corporation for the benefit of its creditors or shareholders, to the extent of any injury suffered by such persons, respectively, as a result of such action: I'll take NY since it's such a popular state for investment, etc. Remove pulldown: Analyzes video clips and removes. You can turn automatic color adjustments on and off at any time. Color is automatically balanced when you add the clip to the timeline. With that said, it is principally governed by state law (or so that it is recollection), and many (most?) states have written personal liability into statutes. Final Cut Pro provides these video and still-image analysis options: Analyze for balance color: Analyzes video clips to detect color balance and contrast. Analyzing a clip for color balance allows Final Cut Pro to choose a representative frame as the clip’s color balance reference frame. Source = Recollection from classes, I am licensed attorney, studied private equity law. To automatically balance a clip’s color, Final Cut Pro uses a single frame from the clip as a reference and calculates a correction for it that is then applied to the entire clip.
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