Who are the incorporators in a corporation?

Prepare for your Partnership and Corporation Exam with engaging flashcards and multiple-choice questions. Each question comes with hints and detailed explanations. Boost your confidence and ace the exam!

Incorporators are the individuals who take the initial steps to form a corporation by signing the Articles of Incorporation, which is a formal document that establishes the existence of the corporation in compliance with state law. The role of the incorporators is critical as they are responsible for ensuring that the corporation is properly established by fulfilling all necessary legal requirements at the outset.

Once the corporation is formed, the incorporators may or may not hold any further role in the corporation. They are primarily involved in the formative process, ensuring that the Articles are filed with the appropriate governmental agency. After incorporation, the management of the corporation typically passes to a board of directors and officers, while shareholders own the corporation but do not play a role in its initial formation.

The other roles mentioned—management committee members, shareholders with control, and stockholders with voting rights—pertain to the governance and management of the corporation once it has been established, rather than the initial act of incorporation itself. Therefore, the key function of the incorporators is specifically tied to the initial signing of the Articles of Incorporation.

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