In a non-stock corporation, what are corporators called?

Study for the Revised Corporation Code test. Prepare with comprehensive multiple-choice questions and detailed explanations. Boost your knowledge and confidence for your exam day!

In a non-stock corporation, corporators are referred to as members. This terminology is significant because a non-stock corporation does not issue shares of stock or equity interests like a stock corporation does. Instead, it is structured around the concept of membership, where individuals or entities join to pursue a common goal, often related to social, charitable, or community-focused objectives.

The term "members" emphasizes the collaborative nature of non-stock corporations, where the decision-making process and governance are carried out collectively by these members. They typically have voting rights and are involved in the administration of the corporation's activities and direction.

In contrast, designations such as stockholders or shareholders pertain specifically to corporations that issue stock, which is not the case in non-stock entities. Similarly, the term investors might imply a monetary focus or expectation of financial return, which does not necessarily align with the mission of non-stock corporations that are often non-profit in nature and not driven by profit motives.

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