The agreement of the founders is a legal act that sets out the responsibilities for the creation of a legal entity, determines the procedure for its activities, reorganization and liquidation.
Instructions
Step 1
The agreement of the founders must contain the full name of the legal entity, its location, and the procedure for managing its work. In addition, the purpose of creating a legal entity, the subject of its activities should be indicated.
Step 2
The memorandum of association also defines how the participants transfer property to the ownership of a legal entity, their participation in the activities of the enterprise. The agreement must specify the procedure for distributing profits between the founders, the authority to manage the activities of the legal entity, as well as the procedure for withdrawing from the founders.
Step 3
The agreement of the founders also determines the composition of the founders of the enterprise, the size of the authorized capital, the share of each participant in it, the size and composition of contributions, the procedure and terms for their contribution to the authorized capital at the time of its creation, the responsibility of the founders for violation of the procedure for making contributions.
Step 4
The constituent agreement should consist of several sections: the introduction, the purpose of concluding the agreement, the name of the legal entity, the subject of its activities, the obligations of the founders to create an enterprise, the formation of property, responsibility for the obligations of the legal entity, the procedure for distribution of profits and repayment of losses, the rights and obligations of the founders, responsibility for violation of the terms of the contract, the conditions for accepting new members into the organization and withdrawing from it, the procedure for termination, amendments to the contract, reorganization and liquidation of a legal entity. If a charter is required when creating a legal entity in accordance with the law, then the clause on its approval is included in the agreement of the founders.
Step 5
The Memorandum of Association comes into force from the moment it is signed by all participants, unless another period is specified in it. A situation may arise when a legal entity acts as a founder. Then the contract is signed by the head of the organization or another person with the appropriate authority.
