Broward Florida Preincorporation Agreement between Incorporators and Promoters

State:
Multi-State
County:
Broward
Control #:
US-01862BG
Format:
Word; 
Rich Text
Instant download

Description

A promoter is a person who starts up a business, particularly a corporation, including the financing. The formation of a corporation starts with an idea. Preincorporation activities transform this idea into an actual corporation. The individual who carries on these preincorporation activities is called a promoter. Usually the promoter is the main shareholder or one of the management team and receives stock for his/her efforts in organization. Most states limit the amount of "promotional stock" since it is supported only by effort and not by assets or cash. If preincorporation contracts are executed by the promoter in his/her own name and there is no further action, the promoter is personally liable on them, and the corporation is not.

Under the Federal Securities Act of 1933, a pre-organization certificate or subscription is included in the definition of a security. Therefore, a contract to issue securities in the future is itself a contract for the sale of securities. In order to secure an exemption, all stock subscription agreements involving intrastate offerings should contain representations by the purchasers that they are bona fide residents of the state of which the issuer is a resident and that they are purchasing the securities for their own account and not with the view to reselling them to nonresidents. A stock transfer restriction running for a period of at least one year or for nine months after the last sale of the issue by the issuer is customarily included to insure that securities have not only been initially sold to residents, but have "come to rest" in the hands of residents.

Free preview
  • Form preview
  • Form preview
  • Form preview
  • Form preview
  • Form preview
  • Form preview
  • Form preview
  • Form preview

How to fill out Broward Florida Preincorporation Agreement Between Incorporators And Promoters?

Preparing paperwork for the business or individual needs is always a big responsibility. When drawing up an agreement, a public service request, or a power of attorney, it's important to take into account all federal and state regulations of the specific area. However, small counties and even cities also have legislative provisions that you need to consider. All these details make it stressful and time-consuming to draft Broward Preincorporation Agreement between Incorporators and Promoters without professional help.

It's possible to avoid wasting money on lawyers drafting your documentation and create a legally valid Broward Preincorporation Agreement between Incorporators and Promoters on your own, using the US Legal Forms online library. It is the greatest online catalog of state-specific legal templates that are professionally cheched, so you can be certain of their validity when selecting a sample for your county. Earlier subscribed users only need to log in to their accounts to save the necessary form.

If you still don't have a subscription, follow the step-by-step guideline below to get the Broward Preincorporation Agreement between Incorporators and Promoters:

  1. Look through the page you've opened and verify if it has the sample you need.
  2. To do so, use the form description and preview if these options are available.
  3. To find the one that suits your requirements, utilize the search tab in the page header.
  4. Recheck that the sample complies with juridical standards and click Buy Now.
  5. Choose the subscription plan, then sign in or create an account with the US Legal Forms.
  6. Use your credit card or PayPal account to pay for your subscription.
  7. Download the chosen file in the preferred format, print it, or complete it electronically.

The exceptional thing about the US Legal Forms library is that all the documentation you've ever obtained never gets lost - you can get it in your profile within the My Forms tab at any time. Join the platform and easily get verified legal forms for any situation with just a few clicks!

Trusted and secure by over 3 million people of the world’s leading companies

Broward Florida Preincorporation Agreement between Incorporators and Promoters