Michigan Laws 450.1202 – Articles of incorporation; contents
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Terms Used In Michigan Laws 450.1202
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
The articles of incorporation shall contain all of the following:
(a) The name of the corporation.
(b) The purposes for which the corporation is formed. All of the following apply for purposes of this subdivision:
(i) Except as otherwise provided in subparagraph (ii) or (iii), it is a sufficient compliance with this subdivision to state substantially, alone or with specifically enumerated purposes, that the corporation may engage in any activity within the purposes for which corporations may be formed under the business corporation act, and all activities shall by the statement be considered within the purposes of the corporation, subject to expressed limitations.
(ii) Any corporation that proposes to conduct educational purposes shall state the purposes and shall comply with all requirements of section 170 to 177 of 1931 PA 327, MCL 450.170 to 450.177.
(iii) A professional corporation shall comply with section 283(2) and (3).
(c) The aggregate number of shares that the corporation has authority to issue.
(d) If the shares are, or are to be, divided into classes, or into classes and series, the designation of each class and series, the number of shares in each class and series, and a statement of the relative rights, preferences and limitations of the shares of each class and series, to the extent that the designations, numbers, relative rights, preferences, and limitations have been determined.
(e) If the shares are to be designated and issued in 1 or more classes or series, a statement of any authority vested in the board to designate and issue shares in 1 or more classes or series, and to determine or change for any class or series its designation, number of shares, relative rights, preferences and limitations.
(f) Except as otherwise provided in section 611(2)(c), the street address, and the mailing address if different from the street address, of the corporation’s initial registered office and the name of the corporation’s initial resident agent at that address.
(g) The names and addresses of the incorporators.
(h) The duration of the corporation if other than perpetual.