What is a corporate charter?
A corporate charter is a legal document that is filed with the Secretary of State in Washington when a business is formed and is created under state laws. It is an official recognition that a business has been formed, and it sets out the rights and responsibilities of the business owners and the process for operations. A corporate charter will define the purpose of the business and the authority of the business owners and directors. It will also state the size of the business and the names of the owners and directors. In Washington, the corporate charter must meet certain requirements and must be approved by the Secretary of State before the business can operate. The corporate charter will also specify the rules for conducting business and the process for making decisions. It will outline the rights and responsibilities of shareholders, as well as other essential documents needed for the business to operate. The corporate charter is an important legal document for any business and is often the first step in forming a new corporation. Once the corporate charter is in place, a business is officially recognized and can begin operations.
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