|
Arbitration
|
Submits disputes to a named arbitral forum before any court is approached, with the provider, the venue and the binding effect all stated as terms rather than assumed. |
^2.0.0 |
Clause |
clause
|
|
Board of Directors
|
The business and affairs of the Entity are managed by or under the direction of a board, whose size is fixed as the bylaws provide; how directors are elected, how long they hold office, and on what vote a director or the whole board may be removed. Consolidates the board, election and removal terms that 1.0.0 carried as three clauses: directors, election and removal are one term, stated once. |
^2.0.0 |
Clause |
clause
|
|
Amendment of the Bylaws
|
Who may adopt, amend or repeal the bylaws, and on what vote - the second-tier document, distinct from amending this Constitution. |
^2.0.0 |
Clause |
clause
|
|
Cumulative Voting
|
Whether a holder may concentrate votes on one candidate in a director election, and the notice required to do so. |
^2.0.0 |
Clause |
clause
|
|
Duration and Dissolution
|
How long the Entity exists, when it is dissolved, and what it may do afterwards. |
^2.0.0 |
Clause |
clause
|
|
Director and Officer Liability
|
Eliminates the personal liability of directors and officers for monetary damages for breach of fiduciary duty, to the fullest extent the governing law allows. |
^2.0.0 |
Clause |
clause
|
|
Entity Type
|
Declares what the Entity is - a corporation, a limited liability company, a partnership, a marriage, a network - so every later clause reads against a stated form. The running text keeps saying Entity; this clause is where the form is pinned. |
^2.0.0 |
Clause |
clause
|
|
Governing Law
|
Names the law under which this Constitution is read and the Entity's internal affairs are decided. The base constitution carries only the slot; adopting this clause is the act that attaches the Entity to a legal system. |
^2.0.0 |
Clause |
clause
|
|
Incorporator
|
Names the incorporator and the mailing address recorded for them. A charter is subscribed by a person or entity in this capacity, and the statutes require the name and address to be stated; in Delaware that person need not be a constituent, and need not be a natural person. |
^2.0.0 |
Clause |
clause
|
|
Indemnification
|
Authorizes the Entity to indemnify its directors, officers and agents, and to advance their expenses, to the fullest extent the governing law allows. |
^2.0.0 |
Clause |
clause
|
|
Management
|
Who manages the entity - a manager, the constituents acting together, or a body named in the record - and the managers of record at adoption. Added when an entity adopts the management module; this is the clause that moves an entity toward a managed LLC. |
^2.0.0 |
Clause |
clause
|
|
Name
|
The Entity's name and the identifier it is known by on the register. Carried as a standalone clause so a document that is not the constitution itself can still state the name the same way. |
^2.0.0 |
Clause |
clause
|
|
Officers
|
The officer roles the Entity has, who appoints them, and the seats held at adoption. Presupposes a Board of Directors, which appoints and removes them. |
^2.0.0 |
Clause |
clause
|
|
Open Registry
|
Records that the Entity is constituted on the Open Registry and accepts the Open Registry Rules in force at adoption, naming the version. Adopted when the Entity registers; a charter drafted before registration carries no such article, because it would claim a fact that is not yet true. |
^2.0.0 |
Clause |
clause
|
|
Purpose
|
States the purpose for which the Entity is organized, in the broad form a corporate charter uses. Required of a corporation; a Delaware limited liability company never states one. |
^2.0.0 |
Clause |
clause
|
|
Registered Agent
|
The entity designates a registered agent to receive service of process, and states the registered office as distinct from the principal office. Added when an entity adopts the registered-agent module; required before a jurisdictional deployment that demands an agent of record. |
^2.0.0 |
Clause |
clause
|
|
Right to Amend
|
Reserves to the Entity the right to amend, alter, change or repeal any provision of this Constitution, with every right conferred granted subject to that reservation. |
^2.0.0 |
Clause |
clause
|
|
Share Structure
|
Authorized shares, their class and par value, in the wording a Delaware corporate charter uses. Supersedes the Entity.ID drafting shipped at 1.0.0. |
^2.0.0 |
Clause |
clause
|