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Aug 6th, 2022
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articles of association. noun [ plural ] LAW. us. a document that contains details of how a company is organized, for example, the duties of management, rights of shareholders, and when meetings will be held.
Features of Articles of Association The features of Article of Association are: It is a part of the constitution of an organization. It is a contract between the members and among the members themselves. It lays down the duties of stockholders also.
Company details, purpose, duration, share capital, power distribution, shareholder meetings, and company organizations are some of the AOA contents.
An Article of Association (AoA) sets down the important rules and regulations for the internal management of the company where it specifies the roles, rights, duties, powers and management of the company. Memorandum of association specifies the objectives of the company and AOA helps to achieve those objectives.
Articles of Association generally prescribes the relation between shareholders and Board of Directors, relation among shareholders and Directors themselves. It usually contains regulation relating to Share capital and Variation rights, Lien, Calls on Shares, Transfer and Transmission of shares etc.
Articles of association form a document that specifies the regulations for a companys operations and defines the companys purpose. The document lays out how tasks are to be accomplished within the organization, including the process for appointing directors and the handling of financial records.
An Article of Association (AoA) sets down the important rules and regulations for the internal management of the company where it specifies the roles, rights, duties, powers and management of the company. Memorandum of association specifies the objectives of the company and AOA helps to achieve those objectives.
The articles of association may be modified by the General Meeting on the basis of a proposal by the Board of Directors or of a proposal by one-tenth of the members constituting the General Meeting.
Common Components of the Articles of Association Company name and form of business. Purpose of the company. Capital structure. Corporate governance. Administration of corporate records.
Contents of Memorandum of Association Name Clause: This clause specifies the name of the company. The name of the company should not be identical to any existing company. Also, if it is a private company, then it should have the word Private Limited at the end.

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