Initiate Company Charter For Free

While detailed requirements vary from state to state, a corporate charter usually includes the following: Corporation name and address. Purpose of the corporation. For-profit or nonprofit status. Registered agent name and address. Number of authorized shares. Share classes and their par values. Corporate directors.

Corporate charters serve to represent the contracts that exist between corporations and their stockholders. It outlines the rights of stockholders and the powers of the corporation's officers. An incorporator must draft and submit documents to the secretary of state in the state where the business will be incorporated.

Chartered company: A chartered company's nature and powers of business are specified by the charter which establishes it. Royal Chartered Company is another name of the chartered companies. Bank of England, East India Company, British Broadcasting Corporation (BBC), etc. are some examples of chartered companies.

A corporate charter is a flexible document that an incorporator is required to prepare and file with the Secretary of State in the state of incorporation.

At the most basic level, the corporate charter includes the corporation's name, its purpose, whether the corporation is a for-profit or nonprofit institution, the location of the corporation, the number of shares that are authorized to be issued, and the names of the parties involved in the formation.

Tip. The five main characteristics of a corporation are limited liability, shareholder ownership, double taxation, continuing lifespan and, in most cases, professional management.

Draft and submit a Charter. The purpose of the group. The type of programming that will be done. A description of officer duties. The conditions for disbandment. Every group must have at least 10 members.

For a corporate charter to be obtained, One or more persons must apply to the secretary of state for permission to incorporate.