What is contained in a Company Charter or Articles of Incorporation
A company charter or articles of incorporation typically contain the following information:
- Company Name: The name of the company that is being incorporated.
- Purpose of the Company: The purpose of the company, which outlines the type of business that the company will conduct.
- Location of the Company: The location of the company's registered office, where legal documents will be served.
- Share Information: The types of shares the company is authorized to issue and the rights and privileges of each share class.
- Board of Directors: The number of directors that will make up the board, their names, and how they will be elected or appointed.
- Officers: The names and titles of the officers of the company, including the president, treasurer, and secretary.
- Capitalization: The amount of authorized capital stock and how it will be allocated.
- Duration of the Company: The length of time the company will exist, which can be perpetual or for a specific term.
- Amendments: The procedures for making changes to the articles of incorporation.
- Dissolution: The procedures for dissolving the company.
These documents are usually filed with the appropriate state agency and become a matter of public record.