Executive Officer - Corporate Law and Other Legal Associations

Corporate Law and Other Legal Associations

Further information: Chief executive officer

In business, the executive officers are the top officers of a corporation, the chief executive officer (CEO) being the best-known type. The definition varies; for instance, the California Corporate Disclosure Act defines "executive officers" as the five most highly-compensated officers not also sitting on the board of directors. In many insurance policies, executive officer means, in the case of a corporation, any chairman, chief executive officer, chief financial officer, chief operating officer, president, or general counsel. In the case of a sole proprietorship, an executive officer is the sole proprietor. In the case of a partnership, an executive officer is a managing partner, senior partner, or administrative partner. In the case of a limited liability company, an executive officer is any member, manager, or officer.

In the airline industry, the executive officer, more commonly known as the first officer, is the second in command of the aircraft. In a fixed wing aircraft the first officer sits in the right-hand seat but a rotary wing aircraft they sit on the left.

Read more about this topic:  Executive Officer

Famous quotes containing the words corporate, law, legal and/or associations:

    “If when a businessman speaks of minority employment, or air pollution, or poverty, he speaks in the language of a certified public accountant analyzing a corporate balance sheet, who is to know that he understands the human problems behind the statistical ones? If the businessman would stop talking like a computer printout or a page from the corporate annual report, other people would stop thinking he had a cash register for a heart. It is as simple as that—but that isn’t simple.”
    —Louis B. Lundborg (1906–1981)

    “Who does not know history’s first law to be that an author must not dare to tell anything but the truth? And its second that he must make bold to tell the whole truth? That there must be no suggestion of partiality anywhere in his writings? Nor of malice?”
    —Marcus Tullius Cicero (106–43 B.C.)

    “Narrative prose is a legal wife, while drama is a posturing, boisterous, cheeky and wearisome mistress.”
    —Anton Pavlovich Chekhov (1860–1904)

    “There is ... no glamor at banquets—I mean the large formal banquets of big associations and societies. There is only a kind of dignified confusion that gradually unhinges the mind.”
    —James Thurber (1894–1961)