What happens if the owners of a corporation never issue stock certificates or complete the Memorandum to the Secretary?
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What happens if the owners of a corporation never issue stock certificates or complete the Memorandum to the Secretary?
Does this mean the corp was not fully formed?
Asked on July 15, 2013 under Business Law, Florida
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
Under the corporation laws of all states in this country, if stock certificates are not issued and the required filings to the secretary of state where the corporation is located are not done, then the corporation may not be in good standing to conduct business. It is a legal corporation but its business activities may be subject to question.
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