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Article Of Corporation Form

Article Of Corporation Form Template for Nigeria

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Key Requirements PROMPT example:

Article Of Corporation Form

"I need an Article of Corporation Form for a tech startup in Lagos, Nigeria, with provision for three classes of shares (including preferred shares for investors) and specific protections for minority shareholders, to be filed by March 2025."

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Document background
The Article of Corporation Form is a mandatory legal document required for company registration in Nigeria under the Companies and Allied Matters Act (CAMA) 2020. This document must be prepared and submitted to the Corporate Affairs Commission (CAC) during the company formation process. It contains essential information about the company's structure, governance, and operations, including share capital details, shareholder rights, director responsibilities, and meeting procedures. The document serves as the company's constitution and provides the framework for its internal management. Any company seeking to incorporate in Nigeria must ensure their Articles of Incorporation comply with current legislation and CAC requirements. The document remains relevant throughout the company's lifetime and may need to be amended as the company evolves or regulatory requirements change.
Suggested Sections

1. Name and Registered Office: Specifies the company name and registered office address in Nigeria

2. Objects of the Company: Details the business activities and purposes for which the company is established

3. Limited Liability: Declaration that the liability of members is limited by shares

4. Share Capital: States the authorized share capital, types of shares, and nominal value

5. Directors and Officers: Provisions regarding appointment, removal, and powers of directors and officers

6. Meetings: Rules for conducting shareholder and board meetings, including notice periods and quorum requirements

7. Share Transfer and Transmission: Procedures and restrictions for transferring shares

8. Voting Rights: Details of voting rights attached to different classes of shares

9. Dividends and Reserves: Provisions for declaration of dividends and maintenance of reserves

10. Company Seal: Provisions regarding the company seal and its use

Optional Sections

1. Pre-emptive Rights: Used when shareholders should have first right to purchase new shares or shares being sold by other shareholders

2. Tag-Along Rights: Include when minority shareholders should have the right to join in the sale of shares by majority shareholders

3. Drag-Along Rights: Include when majority shareholders should have the right to force minority shareholders to join in the sale of shares

4. Special Share Classes: Include when the company will have multiple classes of shares with different rights

5. Founder Provisions: Special provisions relating to founders' rights and obligations, used in startup companies

6. Corporate Social Responsibility: Optional section for companies wanting to embed CSR commitments in their constitution

Suggested Schedules

1. Schedule 1: Share Capital Structure: Detailed breakdown of share classes, numbers, and nominal values

2. Schedule 2: Initial Subscribers: List of initial shareholders with their shareholding details

3. Schedule 3: First Directors: Details of the first directors of the company

4. Schedule 4: Special Rights: Detailed provisions of any special rights attached to different share classes

5. Appendix A: Form of Share Certificate: Template for the company's share certificates

6. Appendix B: Proxy Form: Standard form for appointing proxies for meetings

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
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Relevant Industries

Financial Services

Manufacturing

Technology

Real Estate

Healthcare

Retail

Agriculture

Energy

Transportation

Education

Professional Services

Mining

Construction

Telecommunications

Entertainment

Relevant Teams

Legal

Corporate Secretariat

Compliance

Executive Leadership

Board of Directors

Corporate Affairs

Risk Management

Administrative

Governance

Relevant Roles

Company Secretary

Legal Counsel

Corporate Lawyer

Compliance Officer

Chief Executive Officer

Chief Financial Officer

Board Director

Corporate Governance Officer

Managing Director

Legal Administrator

Risk Manager

Company Registrar

Corporate Affairs Manager

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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