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Articles of Incorporation refers to the highest governing document in a corporation. It is also known known as the corporate charter. The Articles of Incorporation generally include the purpose of the corporation, the type and number of shares, and the process of electing a board of directors.
The Articles of Incorporation states the name, purpose, place of office, incorporators, capital stock, and term of the Company upon its establishment. The By-Laws outline the rules on annual and special meetings, voting, quorum, notice of meeting and auditors and inspectors of election.
An entrepreneur needs to submit the following documents for the incorporation of a company. (a) Memorandum of association. (b) Articles of association. (c) Written approval of the proposed directors to function as directors and an undertaking to buy the qualification shares.
This legal document contains general information about the corporation, that includes its business name, address and other essential information. It is the primary document of authentication of the company, and the Registrar of Companies (ROC) issues this document.