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A charter is a legal document providing a community_of_interest_coi basic information such as its location, profit status (usually non-profit), governing board composition and stakeholder structure. Sommetimes the Charter is referred to as the articles of incorporation or a certificate of incorporation, A CoI Charter is not the same as the CoI Bylaws, which set forth the rules for the company's day-to-day operations.1).
The CoI charter is important because when they are filed and approved with a legal entity, such as a secretary of state, they “give birth” to a new CoI as a formal corporation.
The charter also describes the makeup of the board of directors and the ownership structure of the organization. The articles of incorporation of a for-profit business include the number, classes and par values of authorized shares. The name and address of the company’s registered_agent should be included. Chaarters: Creating the Organization