A company’s articles of incorporation serve as a charter that establishes the existence of the business with the state, and they provide certain information about the business. The articles are filed with the office of the Secretary of State, and they describe the operating characteristics of the corporation. Once they are approved, the articles legally register the business with the state. In this article, readers can learn about the articles and their effects on Business Law in Glen Burnie MD.
Parts of the Articles of Incorporation
Regardless of a business’ size or type, most jurisdictions require that the articles include the information below:
* The company’s address and name
* Its purpose (it is usually stated in rather broad language, such as “engaging in all lawful activities”, to avoid limitation of the company’s business prospects)
* The registered agent’s address and name. The agent can accept legal documents on the company’s behalf.
* Stock information, including the amount of shares the company can issue, the shares’ class designation and their value
A company’s articles of incorporation identifies who initiated and performed the incorporation. If directors are named, those people are usually required to sign the articles before filing.
Writing Articles of Incorporation
Whether the articles are prepared in-house or by a business lawyer, they do not need to be long or complex. If they are written in-house, the articles will likely be accepted as long as the information listed above is included.
Fees and Filing
Once the company’s articles of incorporation are drafted and signed, they can be filed with the appropriate agency. A filing fee must be paid, and it typically ranges from $35-$300 depending on location. In some areas, filing fees vary if the new company has non-profit status.
Get Help Writing and Filing the Articles of Incorporation
Creating and filing articles of incorporation is an important part of ensuring the success of a business. To make sure that a new company complies with Business Law in Glen Burnie MD at every step in the process, the business owner may want to call a business attorney in their area. Karpouzianlaw.com can provide advice that is specific to a particular business. You can also visit them on Facebook for more information.
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