Legal Question in Business Law in New York
moving state of incorporation
My non-profit corporation wants to move its legal home or incorporation state to another jurisdiction with friendlier laws about trustees, etc. Must we dissolve the corporation and reincorporate in the new state in order to accomplish this goal, or is there a simpler way to move to another jurisdiction that would allow the corporation to stay intact?
2 Answers from Attorneys
Re: moving state of incorporation
Dear Reader:
In examining this response, please note that we are not entering into an attorney/client relationship, that this is to be taken as informative, and not as legal advice, that it is always best to speak to a lawyer in your area and/or in the area where the transaction and/or events occurred, and that my answer is necessarily limited by the fact that I have not seen the documentation or had an opportunity to go over the matters with you in detail.
You did not provide the name of the target state or why you think the laws are better there, but it is worth a phone call to the corporations department in the office of the secretary of state of that state to find out what it takes to re-incorporate an existing not-for-profit.
As I mentioned before, this is something that you will want to take up with a lawyer of your own selection, either in your state or area or in a place where some of the pertinent events occurred.
Rod Kovel
Attorney at Law
516-312-9900
Re: moving state of incorporation
I suggest incorporating in the state where you want to be located and then merging the old corporation into the new corporation. This would terminate the existance in the old state and leave you operating in the new state.
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