Charter is a document that creates a corporation.
The charter may be an approved copy of the application form, or it may be a separate document containing the same basic data. The issuance of the charter creates the corporation.
The charter is often referred to as the articles of incorporation.
Webster Dictionary Meaning
- An instrument in writing, from the sovereign power of a state or country, executed in due form, bestowing rights, franchises, or privileges.
- An act of a legislative body creating a municipal or other corporation and defining its powers and privileges. Also, an instrument in writing from the constituted authorities of an order or society (as the Freemasons), creating a lodge and defining its powers.
- A special privilege, immunity, or exemption.
- The letting or hiring a vessel by special contract, or the contract or instrument whereby a vessel is hired or let; as, a ship is offered for sale or charter. See Charter party, below.
- To hire or let by charter, as a ship. See Charter party, under Charter, n.
More from this Section
- Dates for dividend declaration
Three dates are important in connection with dividends: (1) the declaration date, (2) ...
- T account
T account is the basic form of an account. The T account is a standard shorthand in accounting, ...
- Land improvements
Land improvements are structural additions made to land. Examples are drive ways, parking ...
- Responsibility reporting system
A responsibility reporting system refers to the preparation of reports for each level ...
- Ratio of net sales to net income
Ratio of net sales to net income is a statement of the amount of sales a firm had to make ...