This article has multiple issues. Unsourced material may be challenged and removed. Delaware acquired its status as a corporate legal aspects of business pdf free download in the early 20th century.
Delaware adopted on March 10, 1899, a general incorporation act aimed at attracting more businesses. The group that pushed for this legislation intended to establish a corporation that would sell services to other businesses incorporating in Delaware. Before the rise of general incorporation acts, forming a corporation required a special act of the state legislature. General incorporation allowed anyone to form a corporation by simply raising money and filing articles of incorporation with the state’s Secretary of State. 106 A corporation is considered to be in existence after its certificate of incorporation is filed with the secretary of state. 126 Corporations cannot act as banks.