Changing Officers
Changing officers of a corporation in Massachusetts involves filing the articles of incorporation while adhering to state codes. Directors add officers formally at an annual directors meeting but can do so at any time within the bylaws. After recording minutes of a decision, the directors notify the secretary of state to update records of the articles of incorporation with a statement of information.
Required Officers and Term Limits
When a corporation is formed, the initial board of directors adopts the bylaws, which should describe the process for changing the board of directors. In both nonprofit and for-profit corporations, it is common to have staggered terms that limit new board members elected at one time.
Converting to an LLC
The decision to convert a corporation to an LLC in Massachusetts can provide improved tax flexibility, simplified management, and reduced compliance burdens. We aim to make the transition smooth by providing a step-by-step guide that covers requirements, tax implications, and paperwork.
Benefits of a Corporation
One advantage of a corporation in Massachusetts is that it provides limited liability protection to shareholders, meaning their assets are not at risk if the corporation incurs debt or is legally sued. It is recommended that businesses regularly review registered agent information and make changes as necessary. Failure to maintain accurate information can result in consequences for a business.
Starting a Corporation
It’s easy to incorporate in Massachusetts by filing the Articles of Organization with the Secretary of the Commonwealth. We’ll show the step-by-step process to start a corporation in Massachusetts. When naming your Massachusetts Corporation, follow state name requirements and complete a name search. Consider securing a domain name.
Amending Articles of Incorporation
How do I amend articles of incorporation in Massachusetts? Amending involves filing an amendment form with the state. Our free guide provides filing instructions and forms to amend corporation articles with the Secretary.
A restatement of articles of incorporation in Massachusetts will replace old bylaws entirely, while an amendment replaces or supersedes provisions, keeping the originals in effect. To amend, you must first prepare and approve a proposal by the board, then file articles of amendment with the state to make changes.
Forming a Nonprofit
You can incorporate your Massachusetts nonprofit by filing the Articles of Organization with the Secretary online, by mail, fax, or in person. To find nonprofits in Massachusetts, use our lookup table tool to see if a preferred name is in use.