What are the rules for preparing an article of association?

Articles of association form a document that specifies the regulations for a company's operations and defines the company's purpose. The document lays out how tasks are to be accomplished within the organization, including the process for appointing directors and the handling of financial records.

What are the rules of articles of association?

Articles of association form a document that specifies the regulations for a company's operations and defines the company's purpose. The document lays out how tasks are to be accomplished within the organization, including the process for appointing directors and the handling of financial records.

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Checklist in Drafting Articles of Association for Association or Club

Hennepin Minnesota Checklist in Drafting Articles of Association for Association or Club

Name: Hennepin Minnesota Checklist in Drafting Articles of Association for Association or Club
Brand: US Legal Forms
Rating: 4.85 (321 reviews)

Category:

Corporations - Community Associations

State:

Multi-State

County:

Hennepin

Control #:

US-0243BG

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Instant download

Description

This form is a checklist in drafting articles of association for association or club. Statutes have been enacted in various jurisdictions setting forth requirements as to the form and manner of execution of the articles of association and the bylaws of an association. In the absence of statutory requirements, the articles of association or constitution, bylaws, and rules and regulations of an association or club need not be in writing. However, to avoid misunderstanding, dissension, and possible litigation, these items should be set forth in writing.

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Generally, the AoA includes a company's legal name, address, purpose, equity capital, organization of the company, financial provisions, and provisions regarding the shareholder meetings.

Components of the Articles of Association Provisions on the company name. Purpose of the company. Share capital. Organization of the company. Provisions on shareholder meetings.

Contents of Articles of Association Interpretation. Private Company. Share Capital and Variation Of Rights. Preference Shares. Alteration to Memorandum. Control of Shares. Shares held Jointly. Increase of Capital.

Articles of association form a document that specifies the regulations for a company's operations and defines the company's purpose. The document lays out how tasks are to be accomplished within the organization, including the process for appointing directors and the handling of financial records.

The major features of articles of association are as follows. Structure of the organization along with control mechanism. Voting pattern and rights of the employees. Mode of conduct of director's meetings. Mode of conduct of AGM of shareholders. The difference in rights of different kinds of shares.

Usually, your Articles of Association have to include: The company name. The purpose of the company. The organization. Shares and shareholders. Meetings. Director/s and Secretary. Accounts, audits and indemnity. Miscellaneous.

Contents of Articles of Association Share capital including sub-division, rights of various shareholders, the relationship of these rights, payment of commission, share certificates. Lien of shares: Lien of shares means to retain possession of shares incase the member is unable to pay his debt to the company.

Articles of Association is an important document of a Joint Stock Company. It contains the rules and regulations or bye-laws of the company. They are related to the internal working or management of the company. It plays a very important role in the affairs of a company.

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Hennepin Minnesota Checklist in Drafting Articles of Association for Association or Club

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