Form SCC819 Articles of Incorporation of a Virginia Nonstock Corporation - Virginia

What Is Form SCC819?

This is a legal form that was released by the Virginia State Corporation Commission - a government authority operating within Virginia. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is a Nonstock Corporation?A: A nonstock corporation is a type of corporation that is not organized for the purpose of making a profit.

Q: What are the Articles of Incorporation?A: The Articles of Incorporation are legal documents filed with the state government to establish a corporation.

Q: What is the purpose of the Articles of Incorporation?A: The purpose of the Articles of Incorporation is to formally create a corporation and outline its basic structure and purpose.

Q: What information is included in the Articles of Incorporation?A: The Articles of Incorporation typically include the corporation's name, purpose, registered agent, and initial directors.

Q: What is a registered agent?A: A registered agent is a person or entity designated to receive legal and official documents on behalf of the corporation.

Q: Who can be a registered agent?A: A registered agent can be an individual who is a resident of the state where the corporation is being formed, or a corporation that is authorized to do business in that state.

Q: What are the requirements for forming a nonstock corporation in Virginia?A: To form a nonstock corporation in Virginia, you must file the Articles of Incorporation with the State Corporation Commission and pay the required filing fee.

Q: Is a nonstock corporation eligible for tax-exempt status?A: Yes, a nonstock corporation may be eligible for tax-exempt status if it meets the requirements set forth by the Internal Revenue Service (IRS).

Q: Can a nonstock corporation distribute profits to its members?A: No, a nonstock corporation cannot distribute profits to its members. Any income generated by the corporation must be used to further its non-profit purpose.

Q: Can a nonstock corporation engage in business activities?A: Yes, a nonstock corporation can engage in business activities that are related to its non-profit purpose.

Q: Can a nonstock corporation have members?A: Yes, a nonstock corporation can have members who support its non-profit purpose, but membership is not required.

Q: What is the difference between a nonstock corporation and a for-profit corporation?A: The main difference is that a nonstock corporation is organized for a non-profit purpose, while a for-profit corporation is organized to make a profit.

Q: Do nonstock corporations have shareholders?A: No, nonstock corporations do not have shareholders. They are typically governed by a board of directors.

Q: What is the role of the board of directors in a nonstock corporation?A: The board of directors is responsible for making policy decisions and overseeing the operations of the nonstock corporation.

Q: Can a nonstock corporation be dissolved?A: Yes, a nonstock corporation can be dissolved if its members or directors vote to dissolve it in accordance with the corporation's bylaws and state laws.