Model Business Corporation Act. Articles of Incorporation for a Statutory Close Corporation (File this form in duplicate original. If the space provided in this form is insufficient, please attach additional sheets containing a reference to the appropriate paragraph in this form.) 1. The name of the proposed corporation is _________. This corporation is a statutory close corporation. 2. The initial registered office of the corporation is _________ located in the city of _________ state and zip code _________, county of _________, registered agent at such address is _________. If different from the street address, the mailing address at the registered office is _________. 3. The period of duration of the corporation shall be perpetual unless otherwise specified (_________ years). 4. The general nature of business for which the corporation is organized is (please note that it is not necessary to set forth in this clause any of the powers enumerated in section _________ of the [general] business corporation act): 5. The corporation is authorized to issue shares of stock as follows: Class of Shares Authorized No. of Each Class Par Value
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If shares are divided into two or more classes or if any class of shares is divided into series within a class, the relative rights, preferences, and limitations of the shares of each class, or of each series within a class, are as follows: 6. The total authorized capital stock is _________. 7. Unless specified otherwise below, the transfer of shares of stock of the corporation shall be subject to the restrictions set out in [section 4 of the Statutory Close Corporation Supplement], which are printed on page _________ of this form. Stock transfer restrictions other than those in [section 4 of the Close Corporation Supplement] are in effect. If the applicable stock transfer restrictions are not set forth in these articles, a copy will be on file in the corporation's registered office.
8. The corporation [ ] shall [ ] shall not have a board of directors. If corporation has a board of directors, specify the names and addresses of the persons who are to serve as the initial directors of the corporation. Name Address
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9. The optional provisions which the incorporators elect to include in the articles of incorporation are (a complete list of the available options with statutory references is printed on page _________ of this form): 1. _________ 2. _________ 3. _________ 10. The name and address of each incorporator is: Name Street & Box No. City County State
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11. The corporation shall not begin business until there has been paid into the corporation in return for shares of stock the minimum amount specified in section _________ of the [general] business corporation act, which is $_____[of which at least $_____ is in cash]. 12. [Each of the undersigned, being all the incorporators of this corporation, hereby certifies that he has read the foregoing document, understands the meaning and purport of the statements therein contained and the same are true to the best of his information and belief.] Sworn to and signed by the above named incorporators this _________ day _________, 19__.
_________, Signature _________, Signature _________, Signature
_________, Type or print name _________, Type or print name _________, Type or print name
Note: All share certificates (and where the corporation has uncertificated shares, the initial transaction statements) issued by a statutory close corporation must contain the following notice: The rights of shareholders in a statutory close corporation may differ materially from the rights of shareholders in other corporations. Copies of the articles of incorporation and bylaws, shareholders' agreement, or other documents, which may restrict transfers and affect voting and other rights, may be obtained by a shareholder on written request to the corporation.