Incorporation Amendment
This simply refers to changing some parts or the whole of the Article of incorporation of a corporation which is usually referred to as the bible of a corporation. When a business makes changes to its information, the Secretary of State is notified by filing Articles of Amendment (for corporations) and Certificate of Amendment (for LLCs). By law, businesses are required to file this with the Secretary of State when there are changes to the Article of incorporation (for corporations) or Articles of Organization or Certificate of Formation (for LLCs).
The article of incorporation usually contains the following information:
a. Corporation’s name
b. The basic and auxiliary purposes of the Corporation
c. Address of the main office of the Corporation
d. Term of existence of the Corporation (normally 50 years)
e. Names, nationalities, and residences of the incorporators. The Corporation code requires that the incorporators should not be less than 5 but not be more than 15 all of whom must be of legal age and must own or be a subscriber of at least one (1) share of the capital stock of the corporation
f. Number of directors should not be less than 5 and not more than 15
g. Names, nationalities and residences of the persons who shall act as directors until the first regular directors are duly elected and qualified in accordance with the Corporation Code
h. The amount of the authorized capital stock of the Corporation, which must be stated and the number of shares into which it is divided
i. Names, nationalities and residences of the original subscribers, and the amount subscribers and paid by each on his subscription
j. The Corporate Treasurer
So, in order to amend the corporation, the articles of incorporation are altered in parts or as a whole following due process.
The Corporations Act stipulates how a company constitution can be amended and the types of amendments that bind the shareholders of the company.
Sometimes, Articles of Amendment can be filed online and it is applicable to only domestic business corporations in good standing.
Freedom Rings will show you the best options for filing your Amendment to Incorporation documents