Incorporators Flashcards
1
Q
What is the role of incorporators?
A
One of more persons
File articles of incorporation with the State Corporations Committee
2
Q
What info is needed for Articles?
A
Max number of authorized shares to issue
Preferences for rights/classes of stock
Registered agent/office
Incorporators names and addresses
Name of corp - NEED indicia like corp, co, LTD, Inc or long forms
3
Q
Consequences of Formation
A
Improper: crime (misdemeanor) to operate
Proper form:
Liable for own debts/obligations
Limited SH liability
Separate legal person
