Ministries/Business/GenericSockIncorporation

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For Baby Blue and Brick Red socks, there exists a Corporation with the following articles, substituting the color of sock for XXX:

1. The name of this corporation is XXX Corporation. This contract is the Articles of Incorporation for this Corporation

2. A Voting Sockholder is a member of this contract who holds at least one XXX sock. Any member of this contract which does not hold at least one XXX sock ceases to be a member of this contract. A Potential Sockholder that holds at least one XXX sock may become a member of this contract by announcement.

3. Any Voting Sockholder may attempt to amend this contract by posting a Motion by announcement. The Motion is a Game Document and should specify a list of Contract Actions. Each Voting Sockholder may vote FOR, AGAINST, or ABSTAIN on this contract's Motions. The number of votes cast by a Voting Sockholder who votes is equal to the number of XXX socks they hold when the Motion is resolved. After two full rdays, the Voting Sockholder who initiated the Motion may resolve that Motion. If a Motion is not resolved in six full rdays after it is announced it automatically fails. When a Motion is resolved if the total number of FOR votes is greater than the number of AGAINST votes the changes described in the Motion are enacted.

4. Any Potential Sockholder may purchase an XXX sock owned by this corporation by paying the Issue Price to the corporation. Initially, the Issue Price is m80.

5. The sole Officer of this Corporation is the CEO. The Voting Sockholders are responsible for ensuring this corporation fulfills it's obligations by enabling its CEO to act on behalf of the corporation. The CEO may resign their Office by announcement. Initially the Office of CEO is vacant.

6. The following are Contract Actions:

  • Amendment - A change to the Articles of Incorporation
  • Installation - Causing a specific Voting Sockholder to become the

holder of a specific Office in this Corporation

  • Issue - Creating a number of XXX socks in the possession of this Corporation
  • Buyback - Specifying a number of XXX socks and a buyback price. The

CEO of this Corporation is then authorized to purchase the specified number of XXX socks each at or less than the Buyback price on behalf of the Corporation.

  • Deissue - Causing any number of XXX socks held by the Corporation to

be destroyed

  • Dividend - Causing the Corporation to transfer an equal number of

macks to the owner of each XXX sock (with the exception of those XXX socks owned by this Corporation)

  • Adjustment - A change to the Issue Price
  • Split - For each current XXX sock, causing a XXX sock to be created

and given to its owner

  • Authorization - Enabling and obligating an Officer of this

Corporation to perform a specific act not otherwise specified above on behalf of this Corporation

The issue price for each Corporation is m80 unless otherwise specified.

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