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Definition of Corporation It is an artificial being, created operation of law, having the right of succession and the powers, attributes, and properties expressly authorized by law or incident to its existence.
Generic Procedure Plan to Amend a Company's Articles Firstly, the directors must convene a board meeting and provide appropriate notice. The director must obtain a quorum to approve the proposal and submit a resolution to the shareholders to amend the company's articles.
If the articles of incorporation of a close corporation states the number of persons, not exceeding twenty (20), who are entitled to be holders of record of its stock, and if the certificate for such stock conspicuously states such number, and if the issuance or transfer of stock to any person would cause the stock to ...
Among the rights of the company's shareholders are: (1) to receive notices of and to attend shareholders' meetings; (2) to participate and vote on the basis of the one-share, one-vote policy; (3) nominate, elect, remove, and replace Board members (including via cumulative voting); (4) call for a special board meeting ...
The Articles of Incorporation states the name, purpose, place of office, incorporators, capital stock, and term of the Company upon its establishment.
An amendment to your corporation's Articles of Incorporation is filed when you need to update, add to, or otherwise change the original content of your articles. Amendments are important corporate filings as they are required to modify essential corporate information, such as changes to stock information.
NON-AMENDABLE ITEMS Names of incorporators; Names of original subscribers to the capital stock of the corporation and their subscribed and paid up capital; Names of the original directors; Treasurer elected by the original subscribers; Members who contributed to the initial capital of the non?stock corporation; or.