Well, I think it may well depend on the legal relationship amongst the respective corporations. By that I mean, what exactly are each of the Shareholdings. Who are the shareholders of each of these companies? If they are all different relative to each other, then they would be dealing at "arm's length" from each other. On the other hand, if they are wholly-owned subsidiaries of a parent corporation that is owned and controlled by the members of the Governing Body, then the GB would be in a position to totally control these other corporations. I wish I knew more about the actual share structure because that give us a pretty darn good picture of who really is in control of what.
A corporation is a separate "Person" in law. You cannot make the by-laws of one corporation rule over another corporation. But you can produce resolutions in the minute book of a company that would authorize that company to enter into (an) agreement(s) with another corporation that sets out the terms and conditions that two companies agree to operate or conduct business, etc. between them, and also to ratify any such agreement that has been entered into. Therefore, it would be quite interesting to see what agreements by, between and amongst the relevant corporations of this Corporate Group.
Now I suspect that the Shares may well be issued to one or more associated or related corporations for precisely the reason that if the shareholders were individuals, and one or more of them apostacized or died.
If a death was involved, then the shares become part of that person's estate, at which point the beneficiaries of that estate may inherit these shares, unless they were sold to another party. This would have the serious potential to change the effective control of that corporation, which could theoretically have an adverse affect on the relationship of that corporation to the GB in the future. Unless, of course, there was in place a Shareholder Buy-Sell Agreement with the right of first refusal whereby the existing shareholders could buy out the deceased's shares, thus protecting the control of the corporation and its policies, thereby perpetuating and protecting existing relationships with the GB.
If apostasy and disfellowshipment were involved, then existing shareholders would have on their hands a "hostile shareholder". I would think that if the shares were issued to individuals, that again, there would be a Shareholder Buy-Sell Agreement that would make provision for existing shareholders to buy out the emerging hostile shareholder in the event of disfellowshipment. That way they could still control the corporate destiny, and could not be held hostage by a dissident shareholder.
For the above reasons, I suspect that the shares are issued to corporations in some kind of hierarchy that either directly or indirectly effectively gives control to the GB. The reason I am less than certain about this kind of scenario has to do with the fact that if all these corporations are owned and controlled by one parent corporation owned and controlled by an entity owned and controlled by the GB, then whatever happens to the Parentco could adversely affect the company subsidiaries.
(I am aware that the Watchtower Bible and Tract Society is a whole other matter, which I understand has about 500 shareholders and is the publishing company that has been around for most of the JW history.)
It would be helpful if anyone on this forum could shed some light on the corporate structures that are in place. I would think that all these corporations are a matter of public record.
Rod P.
