Montana Proposal to amend certificate of incorporation to authorize a preferred stock
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How to fill out Proposal To Amend Certificate Of Incorporation To Authorize A Preferred Stock?
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FAQ
In other words, the theory posits that it is an act of the state, i.e. the issuance of the charter, that creates a corporation as a legal fiction. ingly, ?a corporation is an artificial being, invisible, intangible, and existing only in contemplation of law?.
If the articles of incorporation of a close corporation states the number of persons, not exceeding twenty (20), who are entitled to be holders of record of its stock, and if the certificate for such stock conspicuously states such number, and if the issuance or transfer of stock to any person would cause the stock to ...
DEFINITION: A corporation is an artificial being created by operation of law, having the right of succession and the powers, attributes and properties expressly authorized by law or incident to its existence.
Hence, limited period of existence and centralized management are not typical characteristics of a corporation.
It is called a legal person because it can enter into a contract, own property in its own name, sue and be sued by others, etc. In essence, it is not human, but it acts through human beings. It is called an artificial person because it is invisible, intangible, and exists only in the vision of the law.
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.
Board approval, either by written consent or at a board meeting (for more about the differences between board consents and board meetings, please see our article), is required for every issuance of a security, whether that security is common stock, preferred stock, a warrant, an option or a note that is convertible ...