What document outlines the number of directors and shares to be issued for a corporation?

Prepare for the Montana Administrator Test with flashcards and multiple choice questions. Each question includes detailed hints and explanations. Ace your exam!

The correct choice for identifying the document that outlines the number of directors and shares to be issued for a corporation is the Articles of Incorporation. This foundational document is filed with the state to officially create a corporation. It includes essential details such as the corporation's name, the address of its registered office, the number of directors, and the total number of shares that the corporation is authorized to issue.

Bylaws, on the other hand, govern the internal management of the company but do not contain information regarding the number of shares authorized. The Operating Agreement is pertinent to limited liability companies (LLCs), not corporations, and focuses on the management structure and operational guidelines for an LLC. Lastly, while a Corporate Charter may refer to the Articles of Incorporation in some contexts, it is not the standard term used to specify shares and directors. Hence, the Articles of Incorporation is the definitive document for this information.

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