Effective: March 24, 2021
Latest Legislation: Senate Bill 21 - 133rd General Assembly
(A) Any person, singly or jointly with others, and without regard to residence, domicile, or state of incorporation, may form a corporation by signing and filing with the secretary of state articles of incorporation that shall set forth all of the following:
(1) The name of the corporation, which shall be in compliance with division (A) of section 1701.05 of the Revised Code;
(2) The place in this state where the principal office of the corporation is to be located;
(3) The authorized number and the par value per share of shares with par value, and the authorized number of shares without par value, except that the articles of a banking, safe deposit, trust, or insurance corporation shall not authorize shares without par value; the express terms, if any, of the shares; and, if the shares are classified, the designation of each class, the authorized number and par value per share, if any, of the shares of each class, and the express terms of the shares of each class;
(4) If the corporation is to have an initial stated capital, the amount of that stated capital.
(B) The articles also may set forth any of the following:
(1) The names of the individuals who are to serve as initial directors;
(2) The purpose or purposes for which the corporation is formed, but in the absence of a statement of the purpose or purposes or except as expressly set forth in such statement, the purpose for which any corporation is formed is to engage in any lawful act or activity for which a corporation may be formed under this chapter, and all lawful acts and activities of the corporation are within the purposes of the corporation;
(3) Any priority or other method for balancing the purposes for which the corporation is formed;
(4) Any lawful provision for the purpose of defining, limiting, or regulating the exercise of the authority of the corporation, the incorporators, the directors, the officers, the shareholders, or the holders of any class of shares;
(5) Any provision that may be set forth in the regulations;
(6) A provision specifying the period of existence of the corporation if it is to be otherwise than perpetual;
(7) A provision eliminating the right of every shareholder to vote cumulatively in the election of directors;
(8) Any additional provision permitted by this chapter.
(C) A written appointment of a statutory agent for the purposes set forth in section 1701.07 of the Revised Code shall be filed with the articles, unless the corporation belongs to one of the classes mentioned in division (O) of that section.
(D) The legal existence of the corporation begins upon the filing of the articles or on a later date specified in the articles that is not more than ninety days after filing, and, unless the articles otherwise provide, its period of existence shall be perpetual.