What must be included in the articles of incorporation?

The articles of incorporation serve as the foundational document that establishes the existence of a corporation and outlines key information about its structure and purpose. Including the basic purposes and powers of the corporation is essential, as it provides clarity on what activities the corporation is allowed to engage in and defines its scope of operations. This information is vital for both regulatory compliance and for informing shareholders and stakeholders about the corporation's objectives.

Incorporating specific details about the purposes and powers ensures that the corporation operates within the law and adheres to its stated objectives. This can also impact dealings with suppliers, customers, and regulatory bodies by providing a clear understanding of the corporation's intended operations from the outset.

While corporate bylaws, names of shareholders, and annual financial reports are important documents for the ongoing operation and governance of a corporation, they are not typically required to be included in the articles of incorporation. The bylaws and shareholder information are often established separately, and financial reports are usually prepared after incorporation, highlighting their relevance at different stages of a corporation’s existence.