Massachusetts Approval of amendment to articles of incorporation to permit certain uses of distributions from capital surplus
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How to fill out Approval Of Amendment To Articles Of Incorporation To Permit Certain Uses Of Distributions From Capital Surplus?
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FAQ
N. an organization formed with state governmental approval to act as an artificial person to carry on business (or other activities), which can sue or be sued, and (unless it is non-profit) can issue shares of stock to raise funds with which to start a business or increase its capital.
A corporation is a legal entity that is separate and distinct from its owners. Under the law, corporations possess many of the same rights and responsibilities as individuals. They can enter contracts, loan and borrow money, sue and be sued, hire employees, own assets, and pay taxes.
Definition: a corporation is a legal entity that is established to perform a specific business. There are both public and private corporations. In a private corporation there are only a few closely held stockholders that may run the company.
LLCs that want to file a Massachusetts amendment have to file a Certificate of Amendment with the Corporations Division of the Secretary of the Commonwealth and pay at least $100 for the filing fee. You can do this by fax, mail, or in person. Massachusetts does not have a ready-made form, so you have to draft your own.
Definition of Corporation It is an artificial being, created operation of law, having the right of succession and the powers, attributes, and properties expressly authorized by law or incident to its existence.
A corporation is an organization?usually a group of people or a company?authorized by the state to act as a single entity (a legal entity recognized by private and public law as "born out of statute"; a legal person in a legal context) and recognized as such in law for certain purposes.
It can also sue and be sued and held liable under both civil and criminal law. As well, because the corporation is legally considered the "person", individual shareholders are not legally responsible for the corporation's debts and damages beyond their investment in the corporation.