Page 153 - Business Principles and Management

Unit 2

FIGURE 6-1 A certificate of incorporation includes information about
the organizers of a corporation.

Cer tif icate of Incor poration of
York, Burton, and Chan, Inc.
Pursuant to Article Two of the Stock Corporation Law.
State of New York
County of Cattaraugus } ss.
We, the undersigned, for the purpose of forming a Corporation pursuant to
Article Two of the Stock Corporation Law of the State of New York, do hereby make,
subscribe, acknowledge and file this certificate for that purpose as follows:
We, the undersigned, do hereby Certify
First.—That all the undersigned are full age, and all are citizens of the
United States, and all residents of the State of New York.
Second.—That the name of said corporation is York,Burton,and Chan,Inc.
Third.—That the purpose for which said corporation is formed is to operate a
retail food business.
Fourth.—That the amount of the Capital Stock of the said corporation is
One Million 1,000,000
Dollars ($ )
to consist of Ten Thousand (10,000) shares of the par value of
One Hundred dollars ($ 100 ) each.
Fifth.—That the office of said corporation is to be located in the City of
Buffalo , County of Cattaraugus and State of New York.
Sixth.—That the duration of said corporation is to be perpetual
Seventh.—That the number of Directors of said corporation is three
Eighth.—That the names and post office addresses of the Directors until the first annual
meeting are as follows:
Jennifer L.York 1868 Buffalo Street, Buffalo, NY 14760-1436
Robert R.Burton 1309 Main Street, Buffalo, NY 14760-1436
Lu Chan 4565 Erie Avenue, Niagara Falls, NY 14721-2348
Ninth.—That the names and post office addresses of the subscribers and the number of
shares of stock which each agrees to take in said corporation are as follows:
Names Post Office Addresses No. of Shares
Jennifer L.York 1868 Buffalo Street
Buffalo, NY 14760-1436 2,217
Robert R.Burton 1309 Main Street
Buffalo, NY 14760-1436 2,217
Lu Chan 4565 Erie Avenue
Niagara Falls, NY 14721-2348 2,217
Tenth.—That the meetings of the Board of Directors shall be held only within the State
of New York at Buffalo
In Witness Whereof, we have made, subscribed, and executed this certificate in
duplicate the tenth day of September in the
year Two thousand

their capital (net worth or equity) of $221,700 each should be invested in the
corporation. Capital stock (or simply stock) is the general term applied to the
shares of ownership of a corporation.
Here is how the details were worked out. The organizers requested authoriza-
tion from the state to issue $1,000,000 in capital stock, as shown in Figure 6-1.

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