Articles of Incorporation New Mexico
Articles of Incorporation New Mexico are the documents you must file to form your corporation in this state.3 min read
Articles of Incorporation New Mexico are the documents you must file to form your corporation in this state. When filing your Articles you will need to pay a fee, and the state will also require certain information.
Forming Your New Mexico Corporation
Drafting your Articles of Incorporation is the most important step in forming your corporation in New Mexico. Once you have written your Articles, you should file them with the New Mexico Secretary of State. You will need to pay a filing fee, and you'll also need to submit a registered agent form signed by your agent. Once you have submitted your Articles of Corporation, your corporation will legally exist.
When writing your Articles, be sure to include all the information required by the state:
- The corporation's name.
- The names and addresses of your incorporators.
- Addresses and names of your directors.
- The name and office address of your registered agent.
- How long your corporation will last.
- The purpose of your company.
- Your stock structure.
Corporations may use different classes of stock. The class of stock owned by a shareholder will impact his rights. For instance, you can issue both voting stock and non-voting stock. In your Articles, you must include specific information about your stock structure. First, you must list how many authorized shares your corporation will issue.
Second, if you decide to use multiple classes of stock, there are several issues you must describe:
- The designation of each stock class.
- How many shares of each class your corporation will issue.
- The rights and limitations of each stock class.
Picking a Corporate Name
Prior to filing your Articles of Incorporation with the Secretary of State, you should make sure the name you have picked for your corporation is free to use. You can perform a search of registered business names in New Mexico to determine the eligibility of your name. You can file a reservation application with the Secretary of State to reserve your corporation name for 120 days.
The name of your corporation must comply with the naming rules in this state. First, you must include a word such as company, limited, incorporation, or incorporated that indicates the legal status of your business. Second, your name cannot be similar to the name of another corporation or business entity in the state.
Naming Incorporators and Directors
When listing your incorporators in your Articles of Incorporation, you need to fulfill the following requirements:
- You need to list the name and address of every incorporator.
- One incorporator is required, but you can name more.
- Both other corporations and individuals can be incorporators, and your incorporators do not need to serve a role in your company after formation.
Incorporators are responsible for actually forming your corporation. They will sign your Articles and then submit this document with your state. Once you have filed the Articles of Incorporation, your incorporators' responsibilities are over.
Follow these requirements when specifying your initial directors:
- You can have multiple directors, but need at least one.
- You should fix the number of corporate directors in your formation documents or in your corporate bylaws.
- No specific qualifications are required for company directors.
Your board of directors is responsible for determining the direction of your corporation. They will develop goals and a long-term strategy for your company, and they should have the ability to effectively manage the affairs of the corporation.
Picking a Registered Agent
Every corporation in New Mexico must name a registered agent. As with every formations step, there are certain requirements you'll need to meet when naming your registered agent:
- You need to provide a full New Mexico street address for your agent's office. You also need to provide your agent's name.
- A New Mexico registered agent can either be a state resident or an entity allowed to conduct business in the state. You cannot name your corporation as its own registered agent, but your registered agent's office can be your corporation's principal office.
- Your registered agent should consent to the role and provide her consent in writing.
Once appointed, your registered agent will be responsible for accepting notices and lawsuits mailed to your corporation.
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