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Making Amendments to Articles of Incorporation

For those that aren’t familiar with Articles of Incorporation and Home Owners Associations, the dictionary defines Articles of Incorporation as

 
PRLog - Jul. 23, 2012 - For those that aren’t familiar with Articles of Incorporation and Home Owners Associations, the dictionary defines Articles of Incorporation as “the basic charter of a corporation which spells out the name, basic purpose, incorporators, amount and types of stock which may be issued, and any special characteristics such as being non-profit”.

Along with the other governing documents it helps to mold the association into how it will run, and sets the association on the path as to how it will work.  In the document will list if the association is a for profit, or not for profit along with the membership and voting rights for the association.

As you can imagine it is important in the beginning for the Articles of Incorporation to accurately reflect how the association will be ran.

Unfortunately from time to time, these articles will need to be amended.  Luckily this amendment is not an extremely difficult process, and works in the same manner as making changes to your other governing documents.  Typically with amendments there is a majority of the association required to approve an amendment, which will be the case with the Articles of Incorporation as well.

The big difference with the articles of incorporation is that an additional step is required in most states.  In many states, the amendment, typically contained in an Articles of Amendment must be files as well with the original articles of incorporation with the state agency in which the corporation is registered.

Continue reading this post and others at    http://www.inventivepm.com/blog

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