Florida Action of Incorporator to Adopt the Bylaws and Designate the Initial Directors of a Corporation
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How to fill out Action Of Incorporator To Adopt The Bylaws And Designate The Initial Directors Of A Corporation?
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FAQ
Florida Law requires that any new company wishing to incorporate in the state of Florida file articles of incorporation with the Florida Department of State. The articles of incorporation is the document that establishes the formation of the company.
Each corporation customizes their own corporate bylaws, and every Delaware corporation has the right to adopt, amend and repeal its bylaws, per Delaware General Corporation Law §122(5). A Delaware corporation's bylaws should not be confused with its Articles of Incorporation.
§ 55-10-20. (b) A corporation's shareholders may amend or repeal the corporation's bylaws even though the bylaws may also be amended or repealed by its board of directors.
Bylaws will be adopted by your corporation's directors at their first board meeting or adopted by the Action of Incorporator and then adopted at the first board meeting. Each state has some form of a Business Corporation Act that governs the lawful operation of corporations and other business entities.
DGCL § 109(a) typifies this approach: It provides that only shareholders have the power to amend bylaws, unless the articles of incorporation expressly confer that power on the board of directors.
Under the Florida Business Corporation Act, the corporation must have bylaws. Florida law states that the corporation can contain any provision for managing and regulating the affairs of the corporation that is not out of alignment with the law or the corporation's articles of incorporation.
According to the Florida Bylaws statute § 607.0206, there is no need for a signing for the bylaws to be accurate and enforceable. On the contrary, on the corporation's articles of incorporation, the bylaws' registered agent will have to secure his signature.
An incorporator is a person or group that files the necessary documents to form a corporation in Florida, known as the articles of incorporation. This is done by submitting articles of incorporation to the Department of State Corporations Division.
The incorporator typically executes a document called an Action of Incorporator (also called an Initial Action by the Sole Incorporator), in which the incorporator adopts bylaws for the corporation, sets the size of the board of directors, and elects the initial board of directors.
Corporate bylaws are legally binding rules that the board of directors adopts once a business incorporates. They lay out the day-to-day operating rules and procedures for a corporation. Establishing bylaws is an important task for the board of directors, helping them oversee the work and operation of the business.
