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The articles of incorporation typically record the corporation's name, if there are any limits to its powers, purposes or duration, identify whether all shares will have the same rights. With this information filed with the state, a new corporation will come into existence, and be subject to the legal rights and duties that the people involved ...
The Model Business Corporation Act (MBCA) is a model act promulgated and periodically amended by the Corporate Laws Committee of the Business Law Section of the American Bar Association (Committee). The MBCA had been adopted by 36 states and other jurisdictions. [1] The MBCA provides a modern body of statutory corporate law that is regularly ...
There are a number of legal benefits that come with incorporation. One significant legal benefit is the protection of personal assets against the claims of creditors and lawsuits. Sole proprietors and general partners in a partnership are personally and jointly responsible for all the legal liability (LL) of a business such as loans, accounts payable, and legal
Articles of association are critical documents to corporate operations, as they may regulate both internal and external affairs. [1] Articles of incorporation, also referred to as the certificate of incorporation or the corporate charter, is a document or charter that establishes the existence of a corporation in the United States and Canada.
This is a list of Illinois companies which includes notable companies that are headquartered in Illinois, or were previously headquartered in Illinois. In general, this list does not include companies headquartered in one of the municipalities of the Chicago metropolitan area .
The secretary of state of Illinois is one of the six elected executive state offices of the government of Illinois, and one of the 47 secretaries of state in the United States. The Illinois secretary of state keeps the state records, laws, library, and archives, and is the state's corporation registration, vehicle registration and driver ...
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