Also known as a certificate of existence or certificate of authorization. The title of the document filed in many states to create a corporation. Also known as the articles of incorporation or corporate charter. Some state close corporation statutes provide for a maximum number of shareholders. In addition, close corporation statutes may eliminate or limit the powers of the board of directors, prescribe pre-emptive rights to the shareholders or relax the corporate formalities.
Exact specifications vary by jurisdiction.
Not all state statutes provide for a close corporation provision. A binder usually containing essential items for the routine maintenance and administration of a corporation or limited liability company. Corporate Kits provided by Incorporate America, Inc., include printed minutes and by-laws, sample documents, corporate tickler, personalized stock share certificates, corporate seal and stock ledger. This information usually includes the company name, date and state of incorporation. Corporate seal are often required when opening corporate or LLC bank accounts, distributing stock share certificates, or membership certificates, or conducting other corporate business.