Putting It All Together
Your office has been contacted by three individuals to form a corporation in your state. The promoters are Lief Pyle, Arnold Prunes and Stan Strait, St. They want to name their corporation Roaring Twenties, Ltd., and will be in the business of land development. In particular, they will be developing a senior citizen theme park, called the Victorian Village, to provide senior citizens with a unique return to a kinder, gentler time where the old values in entertainment can be appreciated without the commercialization of today, A shopping mall, condominiums and single-family homes are also contemplated.
The three promoters will serve as the incorporators and directors and will be the only three stockholders. They plan to contributed $100,000 each for their stock and wish to authorize 100,000 shares with a par value of $100.00. Pyle will be the designated registered agent.
Exercise: Prepare articles of incorporation to be filed with the appropriate state agency for the formation of Roaring Twenties, Ltd.
Advice: check out the SunBiz website for information regarding the Florida Articles of Incorporation forms.