Articles Of Incorporation For Close Corporation

ARTICLES OF INCORPORATION FOR A CLOSE CORPORATION. This form is used to legally establish a close corporation in Maryland. A close corporation is a type of business entity that is privately held, typically with a limited number of shareholders, and operates with fewer formalities than a traditional corporation. This form serves to officially register the business under Maryland law, providing the owners with limited liability by separating personal and business liabilities. It also specifies the number of shares the corporation is authorized to issue, along with their par value if applicable. The form allows the corporation to elect not to have a board of directors, enabling shareholders to directly manage the business. Another key function is the designation of a resident agent, an individual or entity who will receive legal notices on behalf of the corporation. This form is typically used by small business owners who want the benefits of incorporation but with less regulatory burden. www.FormsWorkflow.com