Operate Initials Charter For Free

A charter is the grant of authority or rights, stating that the granter formally recognizes the prerogative of the recipient to exercise the rights specified.

Charter. Written government approval to establish a corporation;includes company name,address,purpose of business,number of shares of stock,and other features of the business.

A. : a grant or guarantee of rights, franchises, or privileges from the sovereign power of a state or country. The charter allows for unrestricted trading. b. : a written instrument that creates and defines the franchises (see franchise entry 1 sense 1) of a city, educational institution, or corporation.

A proprietary charter was issued to a single person, the proprietor, who was in charge of the colony. For example, King Charles II issued a proprietary charter to the Duke of York, who established the colony of New York, and one to William Penn, who established the colony of Pennsylvania.

Charters are issued by state chartering authorities (usually state bank regulators) or at the federal level by the Office of the Comptroller of the Currency (OCC). 1 Credit unions are also chartered at the state level by state regulators or by the National Credit Union Administration (NCUA) at the federal level.

Primary tabs. First, a charter can be defined broadly as the highest law of an entity. More specifically: In corporate law, the articles of incorporation. In public law, the instrument by which a municipality is incorporated (e.g., city charter).

Charters stand in relationship to a county, city, village, or town the same way that a state constitution does to a state or a federal constitution does to a nation. They define the powers and functions of elected officials as well as the organization and procedures of local government.