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Close Corporation Articles Of Incorporation
"I need Close Corporation Articles of Incorporation for my consulting business with three equal partners, incorporating specific provisions for remote work arrangements and digital voting procedures for member meetings, planned to commence operations on March 1, 2025."
1. 1. Formation and Name: Details of the close corporation's name, registration number, and formation date
2. 2. Legal Status: Declaration of the close corporation as a juristic person and its perpetual succession
3. 3. Members: Information about initial members and their percentage interests
4. 4. Principal Business: Description of the main business activities the close corporation will undertake
5. 5. Registered Office: Physical address of the registered office in South Africa
6. 6. Capital Contributions: Details of members' contributions and the nature thereof (cash, property, or services)
7. 7. Management and Administration: Rules regarding management structure and decision-making processes
8. 8. Meetings: Procedures for calling and conducting members' meetings
9. 9. Voting Rights: Rules regarding voting procedures and majority requirements
10. 10. Financial Year End: Specification of the financial year end date
11. 11. Accounting Records: Requirements for maintaining financial records and preparing annual financial statements
12. 12. Banking: Rules regarding banking arrangements and authorized signatories
13. 13. Amendment of Articles: Procedures for amending the Articles of Incorporation
1. Additional Business Activities: Used when the CC plans to engage in secondary business activities beyond its main purpose
2. Association Agreements: Include when members want to establish specific arrangements regarding their relationship and obligations
3. Dispute Resolution: Detailed procedures for resolving disputes between members, recommended for multi-member CCs
4. Internal Auditor: Required if the CC opts to appoint an internal auditor
5. Profit Distribution: Specific rules for profit sharing if different from standard proportional distribution
6. Restrictive Covenants: Non-compete and confidentiality provisions if required for the specific business
7. Succession Planning: Procedures for handling member death or incapacity, important for family businesses
1. Schedule A - Member Details: Complete information about members including contact details and contribution values
2. Schedule B - Initial Contributions: Detailed list of all initial contributions, including valuations of non-cash contributions
3. Schedule C - Authorized Signatories: List of members authorized to sign various documents on behalf of the CC
4. Appendix 1 - Business Plan: Initial business plan detailing proposed operations and financial projections
5. Appendix 2 - Asset Register: Register of assets contributed to the CC at formation
6. Appendix 3 - Special Resolutions: Template forms for special resolutions required for certain decisions
Authors
Professional Services
Retail
Manufacturing
Construction
Agriculture
Technology
Hospitality
Real Estate
Consulting
Trading
Small-Scale Mining
Transportation
Personal Services
Legal
Corporate Secretarial
Compliance
Business Registration
Corporate Governance
Business Advisory
Document Management
Records Management
Business Owner
Entrepreneur
Legal Counsel
Corporate Lawyer
Company Secretary
Business Consultant
Accounting Officer
Managing Member
Compliance Officer
Business Development Manager
Small Business Advisor
Registration Agent
Legal Administrator
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