Georgia Agreement to Incorporate Close Corporation

State:
Multi-State
Control #:
US-0092BG
Format:
Word; 
Rich Text
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Description

A corporation whose shares are held by a single shareholder or a closely-knit group of shareholders (such as a family) is known as a close corporation. The shares of stock are not traded publicly. Many of these types of corporations are small firms that in the past would have been operated as a sole proprietorship or partner¬ship, but have been incorporated in order to obtain the advantages of limited liability or a tax benefit or both.
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  • Preview Agreement to Incorporate Close Corporation
  • Preview Agreement to Incorporate Close Corporation
  • Preview Agreement to Incorporate Close Corporation
  • Preview Agreement to Incorporate Close Corporation
  • Preview Agreement to Incorporate Close Corporation
  • Preview Agreement to Incorporate Close Corporation
  • Preview Agreement to Incorporate Close Corporation

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FAQ

Corporations must have one or more directors. Residence requirements. Georgia does not have a provision specifying where directors must reside.

How to Form a California Close Corporation Step 1: File the Articles of Incorporation with the California Secretary of State (required) ... Step 2: Prepare Corporate Bylaws. ... Step 3: Appoint the Corporation's Directors (required) ... Step 4: Hold a Board of Directors Meeting (required) ... Step 5: Issue Stock (required)

Requirement for and Functions of Board of Directors. Except as provided in Article 9 of this chapter or in a written agreement meeting the requirements of Code Section 14-2-732, each corporation must have a board of directors.

You may file for voluntary dissolution and notice of intent to dissolve electronically using our online services at or you may download the paper forms here. There is an additional $10 service charge if filing in paper format.

If your business is a corporation, then you are required by law to have a board of directors. Depending on your particular corporate structure and your state, one or two directors may be all that's legally required.

Georgia ? Corporations with 50 or fewer shareholders may become a statutory close corporation.

If a corporation has no board of directors, then the shareholders of the corporation run the corporation. The shareholders elect the officers of the corporation who then run the day-to-day operations of the corporation. A corporation does not have to have a board of directors, although most do.

A board of directors (BofD) is the governing body of a company, whose members are elected by shareholders (in the case of public companies) to set strategy, oversee management, and protect the interests of shareholders and stakeholders. Every public company must have a board of directors.

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Georgia Agreement to Incorporate Close Corporation