charter

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Charter

Articles of Incorporation

A document outlining the basic functions of a company. Among other things, it states whether it will be an S Corporation or a C Corporation and how many authorized shares there will be. It also states how its corporate governance and operations will work. A company that seeks to incorporate must file articles of incorporation with the appropriate authority. In the United States, that authority is usually the states and sometimes the federal government. It is also called a corporate charter or simply a charter. See also: Charter Amendment Limitations.

charter

References in periodicals archive ?
(35) Madison too, when admonishing Congress not to charter the bank, "well recollected that a power to grant charters of incorporation had been proposed in the general convention and rejected;" (36) this is unsurprising considering that he was the one who proposed it.
For Marshall, once a corporation was created, a duty to protect its rights against statutory violations kicked in, since the charters of incorporation were constitutionally protected contracts.