COPYRIGHTED MATERIAL
Articles must be filed with the state in which the team incorporates. If articles are not filed, the corporation does not legally exist . If it does not legally exist there is no protection from personal liability and business cannot be conducted in the corporation’s name.
LET'S PRACTICE
ARTICLES OF INCORPORATION
The name of the corporation is __________________________________________________________________________________ Corporate Purpose The purpose of the corporation is to engage in any lawful act or activity for which a corporation may be organized under the General Corporation Law of _________________ ________________[YOUR STATE]. Service of Process You must designate a resident of your state to accept service of process in case your corporation is sued. You may not list your own corporation as the agent. Agent's Name and Address This is a statement that the purpose of the corporation’s business is lawful . PRODUCT PREVIEW _____________________________________________ _____________________________________________ Mailing Address of Corporation _____________________________________________ _____________________________________________ The total number of shares which this corporation is authorized to issue is ____________________________________. The law requires that people be able to find your company to sue it if they have a claim against it. Corporations usually list their lawyer’s name here. You may list lawyer Pat Entguy.
Corporations authorize millions of shares. They do not issue all of them right away. They hold some in reserve for future use, such as raising additional capital.
This form must be signed by each incorporator. Print Name:__________________________________ Signature: ___________________________________ Print Name:__________________________________ Signature: ___________________________________ Print Name:__________________________________ Signature: ___________________________________ Print Name:__________________________________ Signature: ___________________________________
This form must be signed by each team member/incorporator.
235 THE 21st CENTURY STUDENT’S GUIDE TO FINANCIAL LITERACY
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