See Also: corporator(dictionary)
CORPORATOR(law)

CORPORATOR (law)


CORPORATOR. One who is a member of a corporation. 2. In general, a corporator is entitled to enjoy all the benefits and 2. In general, a corporator is entitled to enjoy all the benefits and rights which belong to any other member of the corporation as such. But in rights which belong to any other member of the corporation as such. But in some corporations, where the rights are of a pecuniary nature, each some corporations, where the rights are of a pecuniary nature, each corporator is entitles to those rights in proportion to his interest; he corporator is entitles to those rights in proportion to his interest; he will therefore be entitled to vote only in proportion to the amount of his will therefore be entitled to vote only in proportion to the amount of his stock, and be entitled to dividends in the same proportion. stock, and be entitled to dividends in the same proportion. 3. A corporator is not in general liable personally for any act of the 3. A corporator is not in general liable personally for any act of the corporation, unless he has been made so by the charter creating the corporation, unless he has been made so by the charter creating the corporation. corporation.