Certificate of Incorporation Oklahoma
As soon as you file this paperwork to Oklahoma Secretary of State with the specified fee, your corporation is officially legal.3 min read
A certificate of incorporation Oklahoma includes:
- The name of your business's agent for service of process.
- The number of stock shares your business can issue.
- The address and name of each incorporator.
- The address and name of every member of the board of directors.
As soon as you file this paperwork to Oklahoma Secretary of State with the specified fee, your corporation is officially legal.
Steps to Form an Oklahoma Corporation
In addition to creating your certificate of incorporation and filing it with the Oklahoma Secretary of State, there are a few other important steps to take when creating an Oklahoma corporation. These include:
- Choosing a name for your corporation.
- Setting up a corporate record book. This record book will include your business's meeting minutes, papers, stock certificates, and anything else of value.
- Creating corporate bylaws. These rules will be agreed upon by the directors and guide how you operate the company. You don't need to file these with the state. However, having bylaws does show banks and other companies that you are a legitimate entity.
- Appointing corporate directors. This process should be completed by the people who signed the articles of incorporation. After the directors have been selected, their addresses should be put in the corporate record book.
- Holding the first board of directors' meeting. In this meeting, the directors can decide to adopt the bylaws, appoint corporate officers, and choose a bank for all corporate finances.
- Specifying the amount of stock given to shareholders.
Keep in mind that it's not easy to start a corporation on your own. It's always a good idea to seek the support of a lawyer during this process.
What Are the Benefits of a Corporation?
There are several reasons to consider a corporation over another kind of entity.
The biggest advantage is that corporations offer limited liability for the corporation's owners and shareholders. If a corporation can't pay its bills or faces a lawsuit, the shareholders can't lose more than they've put into the company. Their personal assets, such as cars, houses, or other property, are safe. Because of this, many investors look favorably on corporations.
Additionally, you can also save money on your taxes when you form a corporation.
What Are the Different Kinds of Stock a Corporation Can Offer?
The different kinds of stock a corporation can offer are called series or classes. The different series give various shareholders unique rights. An example is a class of stock that provides voting rights.
Regardless of which class you choose, you have a few rules you have to follow:
- You can only issue the number of shares or stock you authorized in your certificate of incorporation. The certificate of incorporation will also need to specify the par value or each stock, which is a dollar value for each share.
- If you are choosing multiple series of stock, your certificate of incorporation must designate each of these series and clearly define how many should be available for each category. You also need to explain the par value.
How Do You Name a Corporation?
Before settling on a name for your corporation, you'll have to make sure it is available. You can do this by checking the Secretary of State's website, giving them a call, or stopping by in person.
After completing your business name search, you can reserve your ideal name for 60 days by submitting an application. Your name must follow a few unique requirements for it to be legal:
- Your name has to include some kind of indicator that it's a corporation. This can include:
- The name must be unique in all aspects from other entities in the state.
How Do You Choose a Registered Agent for Your Corporation?
Another important part of starting an Oklahoma corporation is choosing a registered agent and registered office. This is a requirement for all new corporations. A registered agent is responsible for accepting various kinds of services, including demands, lawsuits, and notices, on the corporation's behalf.
To name your registered agent, you must list the name and street address of the registered agent on the certificate of incorporation. The agent does have to live in Oklahoma, but they can be a limited partnership, limited liability company, or corporation, instead of just an individual.
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