This multistate form relates to Section 200 of the California Corporate Code that provides in part as follows:
(a) One or more natural persons, partnerships, associations or corporations, domestic or foreign, may form a corporation under this division by executing and filing articles of incorporation.
(b) If initial directors are named in the articles, each director named in the articles shall sign and acknowledge the articles; if initial directors are not named in the articles, the articles shall be signed by one or more persons described in subdivision (a) who thereupon are the incorporators of the corporation.
(c) The corporate existence begins upon the filing of the articles and continues perpetually, unless otherwise expressly provided by law or in the articles.
Delaware Action by Sole Incorporated of Corporation: In Delaware, the Action by Sole Incorporated is a pivotal method through which a single individual exercises their authority to form and establish a corporation. As the sole incorporated, this person holds the power to initiate and complete the necessary steps of incorporation, effectively bringing the corporate entity into existence. This method is commonly used by entrepreneurs and small business owners who prefer to maintain full control and decision-making power over their corporation's formation. The Delaware Action by Sole Incorporated starts with the submission of the Certificate of Incorporation to the Delaware Secretary of State. This document is a formal declaration that includes essential information about the corporation, such as its name, registered agent, purpose, authorized shares, and the incorporated's details. By filing this certificate, the sole incorporated formally commences the process of forming the corporation under Delaware law. Once the Certificate of Incorporation is accepted and processed by the Secretary of State, the sole incorporated can proceed with various other tasks crucial to the corporation's operation. These may include: 1. Appointing initial directors: The sole incorporated has the authority to appoint the initial board of directors who will govern the corporation until the first shareholders' meeting is held. The incorporated can select individuals they trust or wish to involve in the corporation's decision-making process. 2. Adopting bylaws: Bylaws act as the internal rule book of the corporation, outlining procedures for shareholder and board meetings, board member qualifications, voting guidelines, and other governance-related matters. The sole incorporated can draft and adopt these bylaws based on their preferences and the corporation's specific needs. 3. Issuing stock: The sole incorporated has the power to allocate and issue shares of stock. This is typically done to fulfill the corporation's capital requirements or to transfer ownership to shareholders. The incorporated determines the number of shares to be initially authorized and can assign them to themselves or other individuals as deemed appropriate. Different Types of Delaware Action by Sole Incorporated of Corporation: While the process of Delaware Action by Sole Incorporated remains relatively constant, it can be applied to different types of corporations, such as: 1. General Corporation (C Corporation): This is the most common type of corporation, suitable for various businesses and organizations seeking limited liability protection and the ability to raise capital through the sale of stock. 2. Close Corporation (Close Corp): A close corporation is an option for small businesses whose ownership is held by a select few individuals. It provides more flexibility in terms of internal structure and operation compared to a general corporation. 3. Non-Profit Corporation: Sole incorporates looking to establish a charitable or non-profit organization can utilize the Delaware Action by Sole Incorporated process to officially incorporate their entity. Non-profit corporations focus on activities that benefit the public interest rather than generating profits for shareholders. In summary, the Delaware Action by Sole Incorporated of a Corporation empowers an individual to single-handedly establish a corporation by filing the Certificate of Incorporation and undertaking other necessary steps. It is a convenient method for entrepreneurs seeking direct control over the formation and governance of their corporation.
