Articles of association

ARTICLES OF ASSOCIATION


The articles of association or just articles are the rules, regulations and bye-laws for the internal management of the affairs of a company.theaims and objects as set out in the memorandum of association.


The articles are next in importance to the memorandum of association which contains the fundamental conditions upon which alone a company is allowed to be incorporated.

CONTENTS OF ARTICLES

Articles of usually contain provisions relating to the following matters:

1.share capital, rights of shareholders, variation of these rights, payment of commissions, share certificates.

2.lien of shares.

3.calls on shares.

4.transfer of shares.

5.transmision of shares.

6.forfiture of shares.

7.conversion of shares in to stock.

8.share warrents.

9.alterations of capital.

10.genral meetings and proceedings therat.

11.voting rights of members, voting and poll,proxis.

12.directers,their appointment, remunerations, qualifications, powers and proceedings of the board of directors.

13.manager.

14.secretary.

15.dividends and reserves.

16.accounts,audit and borrowing powers.

17.capitalization of profits.

18.winding up.