Warthen and Knettel owned an insurance agency in St. Cloud, Minnesota. Koltes, McMahill and Ketlin owned an insurance agency in Minnetonka, Minnesota. They agreed to transfer their business to a newly formed corporation, to be named the Midwest Consolidated Insurance Agencies, Inc. (MCIA), equally owned by the St. Cloud and Minnetonka groups. Articles of Incorporation were filed with the Minnesota secretary of state. The two groups had difficulty combining their operations. No shares of stock were issued and no formal shareholder or directors' meetings were held. Although bylaws were drafted, they were never approved. Has MCIA's existence begun?