What organization regulates the stock market
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A charter is a legal document that provides for the creation of a corporate entity. A corporation's charter is issued by a federal or regional government and effectively creates a legal entity out of the business, which existed only as a partnership, sole proprietorship or similar business before incorporating. The charter is filed with the secretary of state for the state in which the corporation is headquartered. A chartering fee is typically paid.
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Annual franchise taxes also apply. The application becomes a corporate charterconfirming the corporation exists. The secretary of state signs the charter, retains a copy and issues a certificate of incorporation, confirming the company filed the charter with the state. Failure to do so exposes owners to direct, personal liability for incurring debts and causing damages during that time. The incorporator is in charge of setting up the company and prepares and files the charter along with other corporate documents.
The incorporator may also select members for the board of directors or organize an initial board meeting.
Otherwise the incorporator has no official duties. The agent must be available during regular business hours every weekday. A best way to make money maplestory 2016 charter can change for various reasons.
For example, if the par value of issued shares or the focus of the business changes, the corporation submits a request to change the charter with the secretary of state. The business may also have to submit an amended charter if the number of directors on the board is changed, the people serving on the board change or the corporation changes its primary location.
When setting up a nonprofit organizationhaving a charter gives credibility to its programs and services. Organization documents and governance policies are required when applying for tax exempt status.
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Who Regulates the Financial Markets? - dummies
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Key Roles in Creating a Charter The incorporator is in charge of setting up the company and prepares and files the charter along with other corporate documents.
Example of Creating a Charter When setting up a nonprofit organizationhaving a charter gives credibility to its programs and services.
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