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A form of government where the monarch is elected, a modern example being the King of Cambodia, who is chosen by the Royal Council of the Throne; Vatican City is also often considered a modern elective monarchy. Self-proclaimed monarchy: A form of government where the monarch claims a monarch title without a nexus to the previous monarch dynasty.
By convention, most common law jurisdictions divide the constitutional documents of companies into two separate documents: [1]. the Memorandum of Association (in some countries referred to as the Articles of Incorporation) is the primary document, and will generally regulate the company's activities with the outside world, such as the company's objects and powers.
In the late 19th century, state governments started to adopt more permissive corporate laws. [3] In 1896, New Jersey was the first state to adopt an "enabling" corporate law, with the goal of attracting more business to the state. [3] As a result of its early enabling corporate statute, New Jersey was the first leading corporate state. [3]
Every state and territory has its own basic corporate code, while federal law creates minimum standards for trade in company shares and governance rights, found mostly in the Securities Act of 1933 and the Securities and Exchange Act of 1934, as amended by laws like the Sarbanes–Oxley Act of 2002 and the Dodd–Frank Wall Street Reform and ...
A constitution (or governing document) is the set of regulations which govern the conduct of non-political entities, whether incorporated or not. Such entities include corporations and voluntary associations .
Once completed, these documents will be reviewed by the secretary of state's office, and upon approval from the state government and payment of a filing fee, the company has officially become a legal corporation. [19] [17] The following information is required upon filing Articles of Incorporation in the United States: [17] Name of the Business
This form of limited sovereignty (commonly called "dual sovereignty" or "separate sovereigns" in the language of constitutional law) is derived from the 10th Amendment to the Constitution, which states that "the powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States ...
The Guarantee Clause of Article 4 of the Constitution states that "The United States shall guarantee to every State in this Union a Republican Form of Government." These two provisions indicate states did not surrender their wide latitude to adopt a constitution, the fundamental documents of state law , when the U.S. Constitution was adopted.