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See 13. 1 of the Code of Virginia state s as follows 1. The name of the corporation is. 2. Mark appropriate box or insert applicable provisions see instructions. The corporation shall have no members. OR rights as set forth in the bylaws. OR The designation of the class es of members and the members qualifications and rights are as follows The directors shall elect their successors. OR 4. A. The name of the corporation s initial registered agent is B. The initial registered agent is mark appro ...

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How much does it cost to file Articles of Incorporation in Virginia?

Virginia charges a minimum of $75 ($25 filing fee and $50 for up to 25,000 authorized shares) to file the Articles of Incorporation. Add another $50 for up to 25,000 shares (add $50 for each additional 25K of shares).

What is the Virginia nonstock corporation act?

No dividend shall be paid and no part of the income of a corporation shall be distributed to its members, directors or officers, except that a corporation may make distributions to another nonprofit corporation that is a member of such corporation or has the power to appoint one or more of its directors.

What happens when you dissolve a 501c3?

Once the decision has been made to dissolve, the nonprofit must stop transacting business, except to wind down its activities. The assets of a charitable nonprofit can only be used for exempt purposes. 6\ufeff This means that assets may not go to staff or board members.

What are the purposes for which a nonstock corporation may be organized?

\u2013 Non-stock corporations may be formed or organized for charitable, religious, educational, professional, cultural, fraternal, literary, scientific, social, civic service, or similar purposes, like trade, industry, agricultural and like chambers, or any combination thereof, subject to the special provisions of this ...

What is a nonstock corporation in Virginia?

Virginia Nonstock Corporations (including Nonprofits) Most Virginia nonstock corporations are formed for non-profit purposes, such as clubs, rescue squads, and religious and charitable organizations.

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How do I dissolve a 501c3 in Arizona?

For federal tax purposes, you'll need to file IRS Form 990 or IRS Form 990-EZ. You must include a completed Schedule N (Liquidation, Termination, Dissolution, or Significant Disposition of Assets), as well as copies of your articles of dissolution, proposal to dissolve, and plan of dissolution.

Who may or may not be a trustee of a nonstock corporation?

Except with respect to independent trustee of nonstock corporation vested with public interest, only a member of the corporation shall be elected as trustee. Unless otherwise provided in the articles of incorporation or the bylaws, the members may directly elect officers of nonstock corporation. Section 92.

How do I file an article of dissolution in Virginia?

Visit https://cis.scc.virginia.gov to file articles of dissolution and/or termination of a Virginia Nonstock Corporation in real time. ... NOTE: A corporation that has wound up its affairs and ceased conducting business, without more, will continue to have legal existence.

What is a domestic nonstock corporation?

A Non-Stock Corporation is basically a corporation that does not issue shares of stock. It can be formed as either a for-profit or non-profit corporation. Since the Non-Stock Corporation has no shareholders, it is owned by its members \u2013 meaning a member-owned corporation that does not issue shares of stock.

Does Virginia require articles of organization?

An articles of organization form is the document that one must complete and submit to the state to establish the creation of an LLC within the Commonwealth of Virginia. It sets forth the name of the proposed company, and it may set forth other provisions, provided that they are not inconsistent with state law.

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