Incorporation Laws in Nevada
The Secretary of the State in Nevada laid down incorporation laws for any kind of business activity in the state. The purpose to form a corporation in Nevada does not have to be stated with the secretary of the state in the articles of incorporation. However, the following are the rules in other subject areas that need to be considered while you intend to incorporate in Nevada:
Naming a Company
- The name of the new corporation must in explicit words be distinguishable from already-existing companies that are registered in Nevada as business entities, subject to some exceptions as per Nevadan laws.
- The name must not be an individual’s name or a given name except when added with other one or more words that make the name distinguishable from a name of a natural person, such as abbreviations or words like “Limited”, “Incorporated”, “Corporation”, or “Company”.
Articles of Incorporation
As you incorporate in Nevada, the articles of incorporation must be filed with the Secretary of the State. The following are the rules regarding articles of incorporation in Nevada:
- There must be at least an incorporator of the company or business.
- Any person or entity can serve as an incorporator of the company.
- Name and address of all the incorporators must be listed in the articles of incorporation.
- There must be at least one director of the corporation.
- The director must be an individual who is an adult at least 18 years old.
- The bylaws or the articles can prescribe other qualifications for the directors.
- Names and addresses of all the initial directors must be given in the articles.
Number of Shares
- The number of shares that the company issues its authorities at the time of filing must be given in the articles of corporation.
- The number of shares of each of the class or series must also be given in the articles.
- Name and address of the corporation’s resident agent must be given in the articles.
- If the corporation is being registered as an investor, the provision that limits or eliminates the annual share meetings must be given in the articles.
- Officers can be listed in the bylaws or can be elected by the board of directors, where other officers can also be appointed with the bylaws.
- They must be individuals and there must be at least a secretary, president, and a treasurer of the corporation and officers can have more than one office.
Moreover, all corporations must have a Nevada Resident Agent to receive all official state correspondences. A resident agent must have a physical address in Nevada that’s open during business hours. The agent is also required to sign the Certificate of Acceptance in the articles of corporation.