Define: Incorporator

An incorporator is an individual or entity responsible for initiating the process of forming a corporation. They are typically named in the articles of incorporation and are responsible for filing the necessary documents with the appropriate government agency.

An incorporator can be either an individual or a business entity. It is common for individuals to act as incorporators, but businesses can also fulfill this role.

The main responsibility of an incorporator is to prepare and file the necessary documents to legally establish a corporation. This includes drafting the articles of incorporation, obtaining necessary signatures, and submitting the paperwork to the appropriate government agency.

Generally, an incorporator is not held personally liable for the actions of the corporation. Once the corporation is formed, it becomes a separate legal entity, and its shareholders, directors, and officers assume liability for its actions.

Once the corporation is formed, the role of the incorporator is typically completed. They do not have ongoing responsibilities or authority within the corporation, and therefore cannot be removed or replaced.

Yes, an incorporator can also be a shareholder or director of the corporation. There are no restrictions on an incorporator holding other roles within the corporation.

An incorporator can be held responsible for any errors or omissions in the incorporation process if they were negligent or acted in bad faith. It is important for incorporators to exercise due diligence and ensure all necessary steps are taken correctly.

No, an incorporator is not personally responsible for the debts or obligations of the corporation. As mentioned earlier, once the corporation is formed, it becomes a separate legal entity, and its shareholders, directors, and officers assume liability.

Yes, an incorporator can be a non-resident or non-citizen. There are typically no restrictions on the nationality or residency of an incorporator.

Yes, an incorporator can be removed or replaced before the corporation is formed if all parties involved agree to the change. This can be done by amending the articles of incorporation or by filing new documents with the government agency.