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Incorporation is the formation of a new corporation. The corporation may be a business , a nonprofit organization , sports club , or a local government of a new city or town [ citation needed ] .
AA Berle and GC Means, The Modern Corporation and Private Property (1932) Book I, ch IV, 64 The Wall Street Crash saw the total collapse of stock market values, as shareholders realized that corporations had become overpriced. They sold shares en masse, meaning many companies found it hard to get finance. The result was that thousands of businesses were forced to close, and they laid off ...
The current Massachusetts General Court has met as the legislature of the Commonwealth of Massachusetts since the adoption of the Massachusetts Constitution in 1780. The body was in operation before Massachusetts became a U.S. state on February 6, 1788. The first sessions, starting in 1780, were one-year elected sessions for both houses.
Administrative divisions of Massachusetts. Massachusetts shares with the five other New England states a governmental structure known as the New England town. Only the southeastern third of the state has functioning county governments; in western, central, and northeastern Massachusetts, traditional county-level government was eliminated in the ...
New Jersey followed New York's lead in 1816, when it enacted its first corporate law. [3] In 1837, Connecticut adopted a general corporation statute that allowed for the incorporation of any corporation engaged in any lawful business. [3] Delaware did not enact its first corporation law until 1883.
Illinois's standard law on municipalities came into effect on July 1, 1872, and does not provide for the incorporation of municipal towns. Since the Municipal Code provides a standard way for citizens to incorporate a new city or village, but not a town, incorporated towns are far less common than city and village municipalities in Illinois.
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