What is a Corporator?

A corporator is a member of a corporation, which is a legal entity that is separate and distinct from its owners or shareholders. Corporations are created to conduct business and engage in economic activities, and they have their own rights and obligations, such as the ability to enter into contracts, own assets, and sue and be sued in court.

Corporators are the individuals who own shares of a corporation and have a say in its management and operations. They may be referred to as shareholders or stockholders, and they typically elect a board of directors to oversee the corporation's management and make major decisions on its behalf. Corporators may also receive dividends on their shares and have the potential to profit from the success of the corporation.

In some cases, corporators may be personally liable for the debts and obligations of the corporation, depending on the specific laws and regulations governing the corporation's formation and operations. However, in general, the shareholders or corporators are not personally responsible for the corporation's debts and obligations, as the corporation is considered a separate legal entity from its owners.