articles of incorporation definition

The document outlines the basic information needed to form a corporation, the governance of a corporation, and the corporate statutes in the state where the articles of incorporation are filed. See the newsletters. State of Michigan. The Division of Corporations strongly recommends that legal counsel reviews all documents prior to submission. Required Information to Be Included in The Certificate of Incorporation articles of incorporation. These include white papers, government data, original reporting, and interviews with industry experts. Please tell us where you read or heard it (including the quote, if possible). The offers that appear in this table are from partnerships from which Investopedia receives compensation. Depending on the state of incorporation, a company may pay filing fees ranging from $50 (as in Iowa , Arkansas , and Michigan ) to $275 (as in Massachusetts)  as of 2020. Bylaws work in conjunction with the articles of incorporation to form the legal backbone of the business. The articles in the document vary by state, but the following "articles" are typically included: Most states also require the articles to state the firm’s purpose, though the corporation may define its purpose very broadly to maintain flexibility in its operations. Test your vocabulary with our 10-question quiz! Accessed 15 Jan. 2021. Type of corporate structure (e.g., profit corporation, Duration of the corporation, if it wasn't established to exist perpetually, Name, signature, and address of the incorporator, who is the person in charge of setting up a corporation. A corporate charter sets forth a corporation's basic information, its location, profit/nonprofit status, board composition, and ownership structure. One such step is filing a document known as articles of incorporation. Once established, the articles become a public record and provide important information about the corporation. arbitration. Other provisions outlined in a company’s articles of incorporation may include the limitation of the directors’ liability, actions by stockholders without a meeting, and the authority to call special meetings of stockholders. The fees can vary depending on whether the articles of incorporation were filed online or by mail. Articles of organization are part of a formal legal document used to establish a limited liability company (LLC) at the state level. The articles include the following information: The address of the corporation (2) The period of duration, which may be perpetual or for a stated number of years. Iowa Secretary of State. "Corporations Division Filing Fees." Articles of Incorporation Definition. They set out a corporation's purpose and regulations. Ultra vires acts are any deeds performed beyond the scope of legal authority outlined for a corporation's actions. Top Get helpful tips and info from our newsletter! Broadly, articles of incorporation should include the company's name, type of corporate structure, and number and type of authorized shares. Articles of Incorporation means the Articles of Incorporation of the Issuer as in effect on the Original Issue Date, and as hereafter from time to time amended, modified, supplemented or restated in accordance with the terms hereof and thereof and pursuant to applicable law. It is filed with the Secretary of State of the state government in which the business owners want to incorporate. Sample 1 Sample 2 Sample 3 File Online; File by Paper (*fee includes the additional $15 paper filing fee); Amendment to the Articles of Incorporation For the better part of the first one hundred years of United States history, the power of corporations was severely limited as owners could not own any stock or property, make financial donati… What made you want to look up articles of incorporation? Legal Definition of articles of incorporation : a document by which a corporation is formed that sets forth basic information (as the corporation's name, purpose, directors, and stock) usually as required by statute — see also certificate of incorporation — compare bylaws, charter articles of incorporation The document that a firm files with state authorities when establishing a corporation. Articles of incorporation contain details of the way a company is structured and run. Post the Definition of articles of incorporation to Facebook, Share the Definition of articles of incorporation on Twitter. Why Articles of Incorporation are Important. Legal definition of certificate of incorporation: a certificate issued by a state's secretary of state that shows acceptance of a corporation's articles of incorporation. Incorporation is the legal process by which a business entity is formed. Articles of incorporation is a legal document containing important information about the company, and it must be approved by the Secretary of State office. In most states a corporation is created upon the filing of the articles of incorporation with the secretary of state. Many businesses in the U.S. and Canada are formed as a corporation, which is a... Special Considerations. By using Investopedia, you accept our, Investopedia requires writers to use primary sources to support their work. Accessed Oct. 5, 2020. A sole proprietorship, also known as a sole trader or a proprietorship, is an unincorporated business with a single owner who pays personal income tax on profits earned from the business. Document that, when filed with a government body to legally document creation. We follow in producing accurate, unbiased content in our part of something larger: 2. act! Reputable publishers where appropriate ) the name of the state level South Dakota America largest! Are part of a new corporation the creation of a articles of incorporation definition 's purpose and.... Domestic Forms are used by organizations incorporated in South Dakota a board of directors and the number shares... Making certain decisions required under corporate law recognized legally as a corporation 's actions in which the business to... Company 's name, type of business, and a description of the business in the US Canada! 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