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Hence, limited period of existence and centralized management are not typical characteristics of a corporation.
Typically, the articles must contain, at the very least: the corporation's name and business address. the number of authorized shares and the par value (if any) of the shares. the name and address of the in-state registered agent.
The Articles of Incorporation are like the constitution of the corporation that provides a broad framework for its establishment, whereas the bylaws can be likened to the individual laws that must be consistent with the Articles of Incorporation.
How to Amend Articles of Association Review Existing Articles of Association. ... Propose Amendments. ... Hold a Meeting to Pass a Resolution. ... File Amended Articles of Association. ... Update Internal Records.
Probably the two most common reasons for amending the Articles are to effect: a change of the name, and. a change of the purpose statement.
Like a constitution, a corporation's certificate of incorporation may be amended at any point in the future. It is not a "forever" contract. A board of directors together with the corporation's stockholders can amend a certificate of incorporation.
How to Amend Articles of Incorporation Review the bylaws of the corporation. ... A board of directors meeting must be scheduled. ... Write the proposed changes. ... Confirm that the board meeting has enough members attending to have a quorum so the amendment can be voted on. Propose the amendment during the board meeting.
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.