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 ?
By 1900, New Jersey chartered some 95 percent of the nation's major corporations.
State guaranty funds would remain intact; indeed, federally chartered insurers would be required to participate to the extent that states want to allow them to participate.
"Legislatures also chartered profit-making corporations to build turnpikes, canals and bridges," the authors write.
If enacted, these recommendations would give the state board the authority to charter schools in addition to those chartered by local boards.
At the time of the Constitutional Convention, only some 40 business corporations had been chartered in all the colonies.
Decades of official BSA documents reveal that the chartered organization owns and operates the post or troop and is therefore responsible for the discriminatory policies used in its operation.
The draft would give insurance companies the option of being chartered and regulated by the federal government or by an individual state.

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