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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.
Arizona is one of only fourteen states with elected commissioners. [1] The Arizona Constitution explicitly calls for an elected commission, as opposed to a governor-appointed commission, which is the standard in most states, [2] because its drafters feared that governors would appoint industry-friendly officials. [3]
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 ...
However, given the restrictive nature of state corporation laws, many companies preferred to seek a special legislative act for incorporation to attain privileges or monopolies, even until the late nineteenth century. In 1819, the U.S. Supreme Court granted corporations rights they had not previously recognized in Trustees of Dartmouth College v.
(The Center Square) – The United States House of Representatives passed House Resolution 29, also known as the “Laken Riley Act” on Tuesday, which passed with a bipartisan 264-159 vote ...
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
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The process, approved by voters in 1974 and amended in 1992, is described in Article 6, Section 37 of the Arizona Constitution. [10] As described there in paragraph B, the selection of trial court judges through this process only applies to counties with a population of over 250,000 people, as counted by the most recent US Census.