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A corporation may be shaped for virtually any lawful business purpose or applications. The Section of State can't provide suggestions about the choice of business development and strongly recommends consulting with legal and monetary advisors prior to making the choice.
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Additionally, a meeting of shareholders must be held annually for the election of directors as well as transaction of other business with a date fixed by or under the by-laws. (See Section 602 on the Business Corporation Legislation.
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(See Section 601 with the Business Corporation Regulation.) The corporation is required to keep correct and finish books and documents of account and should preserve minutes with the proceedings of its shareholders, board of directors and govt committee, if any. The corporation should also hold a file containing the names and addresses of all shareholders, the variety and course of shares held by Every single and the dates if they respectively turned the house owners of file thereof. (See Section 624 of the Business Corporation Law.)
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The data of corporations that went from existence ahead of December five, 1977, are contained in websites manual inactive files at the Section of State. Whilst still preserved, a published ask for have to be designed for these data.
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A company company/drawdown account needs to be utilized to fork out transaction expenses if you wish to directly obtain the Division's computerized index of corporations and business entity information.