DC articles of incorporation, otherwise known as corporate chapter or certificate of incorporation, are the primary rules of an organization. This piece of document states the principles that are involved in the management of a company or business group. To complete the process, this is filed with a state agency or regulatory agency. Heads of the organization must look into this concern.
There are a number of items included in this document. First off, this should contain the corporation’s complete name which is an essential part. The name must include Corporation, Limited, or Incorporated in it. If it entails professional services, the name should end with the term Chartered or should indicate that it is a company rendering professional services.
A date should also be written to indicate when the articles are to be filed. The dates would also indicate the duration or period of time of the organization’s existence if perpetual. Dates are important components of a document. These can be used as basis by some agencies when checking documents. These also make time lines more specific for the company.
The organization’s purpose must be described in detail in the chapter as well. An organization may have different purposes which could be insurance, banking, business, services, or historical studies. It should also be indicated whether the group is a non profit type. The objectives and aims of the organization should be stated in full so that agencies can be made aware.
Another content of this chapter is the shares that the organization can issue. The organization must state the value and class of shares as well as the number that can be issued to shareholders. This should also contain the restrictions, qualifications, limitations, and rights of shareholders. Some organizations may state if they have any members.
On this note, provisions pertaining to the shareholders are also stated. These provisions contain the limitations of shareholders when it comes to acquiring additional shares. Some time in the future, shareholders could decide to add more shares. This could be allowed or denied as per the rules stated in the documents. Parties associated with the organization must be aware of this.
The names of the board of directors are also essential contents of this document. The number of person composing the board must be stated also. At least one person must be on the list. One person should serve as director until the board elects a successor. These individuals have important roles in the company’s operations. They may be in charge of different internal affairs.
Moreover, this must include names of incorporators and their respective addresses. The number of persons must be included on the document as well. As with the directors, there is at least one on the list. Every person on this list must sign and indicate the date. As with other documents, there should be a date and must be signed by those involved.
When making DC articles of incorporation, it must be typed and not handwritten. Typed documents are much clearer and easy to understand. All items should be completely answered and answers must be specific as much as possible. Most likely, this may require certain proofs such as licenses and consents. These should be secured and completed before filing.
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