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State incorporation statutes establish the requirements for corporate formation. Each individual corporation's charter creates a contra between that corporation and the state. Although state law
State incorporation statutes establish the requirements for corporate formation. Each individual corporation's charter creates a contra between that corporation and the state. Although state law generally governs corporations and each state has its own corporate regulatory statutes, the Revised Model Business Corporation Act (RMBCA) is the basis of most state statutes. More than 25 states hav adopted at least part of RMBCA. This chapter refers to specific RMBCA guidelines, but remember that not all states follow them. Roll your cursor over each label to reveal one of the events in the formation of a corporation. Then drag the tile to the appropriate place on the process line
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