How to Amend Articles of Incorporation in Maine (2024)

Amending the Articles of Incorporation in Maine is required if you make any changes to your formed corporation. An amendment is a process through which you report the structural or any change in your corporation to the Maine Secretary of State. To do so, you are required to follow a few simple steps. You need to get the amendment form, enter the details of the changes, and submit it to the appropriate address along with the amendment fee.

In this article, we have shared the process in detail. You will learn how to amend Maine Articles of Incorporation in easy steps. It will be helpful for you if you read the article till the end.

What is the Maine Articles of Incorporation?

The Maine Articles of Incorporation is a legal document that you need to file with the Secretary of State while registering your corporation in Maine. It is similar to the Certificate of Formation you file while creating an LLC in Maine. If you already own a corporation in Maine, you must know what the Articles of Incorporation is. However, those who are not aware of this document can get all the required details from this page. The Articles of Incorporation is a set of papers that have all the information regarding your corporation and are filed with the Secretary of State. You must pay the filing fees to register your Articles of Incorporation.

This document has information related to your corporation. Details like the name of the corp, principal address, Maine Resident Agent details, corporation structure, directors, shareholders, and signature of the incorporators should be mentioned in the document. An online or offline form mentioning these details should be filed with the SOS at the time of forming your corporation. You must pay the filing fee to the state online or by check.

Like forming an LLC, for the corporation, it takes some time to form your business in Maine after filing the documents. You can expedite the filing process by paying additional money over the filing fees.

It is good to make changes in your Articles of Incorporation. When you change anything, specifcally the name, it brings good and bad effects to the company. Make sure the name change does not affect your revenue or status adversely.
– LLCBuddy Editorial Team

How to Amend the Maine Articles of Incorporation

There are three main steps to file your amendment to the Maine Articles of Incorporation. Before you proceed with the steps of filing the form, you must know what changes you can make in your corporation and what changes you cannot. Let’s start with the first step and some related information,

Step 1: Determine What Changes You Need in Maine Corporation

Updating your Articles of Incorporation periodically can be beneficial by making necessary changes. However, frequent alterations in structure or name may not be advisable. The first step involves determining which changes are needed and assessing their potential impact. Modifying aspects of your existing business can affect your revenue or client relationships, so it’s crucial to carefully consider whether the changes are truly necessary and what consequences they may bring.

An up-to-date Articles of Incorporation reflects the current status of a corporation in Maine. The key elements of your updated Articles of Incorporation may include the advantages of being a Resident Agent, the company’s contact information, and the process for receiving legal notices, among other details.

Step 2: Review the Changes You Made in the Articles of Incorporation

The subsequent step involves reviewing the changes. The Maine Secretary of State may request additional supporting documents based on the modifications made to your corporation. After finalizing the changes, you can proceed to draft the Maine corporate amendment. Consult with the SOS to determine if any other documents need to be submitted. For instance, if you are changing the business name, you might be required to submit a name change/reservation form along with the Maine Corporate Amendment form.

What Can Be Changed in Articles of Incorporation

It is not easy to change things in your business. Besides, there are some restrictions in changing things in your corporation in Maine. There are things you can change, but there are things that you cannot change. I have mentioned a few points in this article that you can change above, such as the name, statement of purpose, and the number of shares issued. Now, there are things that you cannot change in the Articles of Incorporation.

What Can not Be Changed in Maine Corporate Amendment?

If you started a corporation in Maine, you must initially have appointed a Resident Agent. You cannot change the initial registered agent in the Articles of Incorporation Corporate Amendment. You can change it using other methods and forms available in the Maine SOS.

Another point is the initial mailing address of your corporation cannot be changed in the Maine Corporate Amendment. In this case, you can change it through other methods requiring different forms.

The third point is the initial directors who formed the corporation in Maine. The details of the initial directors cannot be changed in the Maine Corporate Amendment. There is no other way to change the directors’ details.

Step 3: File the Maine Corporate Amendment

Finally, file the Maine Corporate Amendment with the Secretary of State by the methods (online or offline) available. You must go through the filing process mentioned on the SOS official website before you start the filing process. You must pay the state fees for filing the Maine Corporate Amendment.

Online Filing: Not Available
Offline Filing: Amendment of Incorporation PDF Form
Amendment Fees: $50 processing fee + an additional $50 for expedited filing within 24 hours OR/AND $100 for additional for immediate filing

If you are in Maine and have formed an LLC, you must file the Certificate of Amendment in Maine with the SOS if you make any changes to the limited liability company.

Why Amend Articles of Incorporation in Maine?

There can be several reasons why you make changes to your corporation. A business runs based on diverse components. From economic conditions to internal structures (shareholders and directors), the corporation can change many times in its life based on external or internal reasons.

Change of Maine Corporation Name: The name of the corporation does not often change because it is the primary identity of any business. Sometimes, a spelling or the entire name requires to be changed for many reasons. In that case, the corporation has to file the amendment with the SOS mentioning the old and new names. They have to submit the business name change form with the amendment form.

Change of Statement of Purpose: This is a document where you explain the purpose of your corporation. The purpose says that you are involved in legal and lawful activities through your business. If you are having a nonprofit, you must have a community purpose. If you change that purpose, you must file the amendment. If you change the nature of the business or the purpose of the corporation overall, then you must file an amendment.

Change in Numbers of Stocks and Shares: Finally, if you change the number of shares or stock issues in your company, then you must amend it. It can be reduced or increased if you decide to remove or add a shareholder/partner to the corporation. In that case, it must be amended with the SOS.

Penalties for Not Filing the Amendment in Maine

Now, one question arises when we talk about filing the amendment what happens if you don’t amend the Maine Articles of Incorporation? The answer is simple. You might have to pay heavy penalties if you do not file it. Besides, you may lose existing clients as they may not be interested in continuing to work with your company.

They might cancel the existing contract; you might lose the bank loan or advance opportunities, or you may lose the business bank accounts for not complying with the amendment filing requirements. Hence, it is highly recommended to amend the Maine Articles of Incorporation.

FAQs

How do I amend the Maine Articles of Incorporation?

To amend the Maine Articles of Incorporation, you must file Articles of Amendment with the Maine Secretary of State.

Is there a fee to file an amendment to the Maine Articles of Incorporation?

Yes, there is a filing fee associated with amending the Maine Articles of Incorporation.

Can amendments to the Maine Articles of Incorporation be filed online?

Yes, you can file amendments to the Maine Articles of Incorporation online through the Maine Secretary of State’s website.

Do I need the approval of the board of directors to amend the Maine Articles of Incorporation?

Yes, typically the board of directors must approve any amendments to the Maine Articles of Incorporation.

Are there specific requirements for the content of an amendment to the Maine Articles of Incorporation?

Yes, the Maine Articles of Incorporation must include specific language outlining the changes being made.

How long does it take for an amendment to the Maine Articles of Incorporation to be processed?

The processing time for an amendment to the Maine Articles of Incorporation can vary, but it is typically processed within a few weeks.

Can I amend the Maine Articles of Incorporation to change the name of my corporation?

Yes, you can file an amendment to the Maine Articles of Incorporation to change the name of your corporation.

Do I need to notify the IRS of amendments to the Maine Articles of Incorporation?

Yes, you may need to notify the IRS of any changes made to the Maine Articles of Incorporation.

Can I amend the Maine Articles of Incorporation to change the registered agent for my corporation?

Yes, you can file an amendment to the Maine Articles of Incorporation to change the registered agent for your corporation.

What happens after I file an amendment to the Maine Articles of Incorporation?

Once the amendment to the Maine Articles of Incorporation is processed, you will receive a confirmation from the Maine Secretary of State.

How do I amend the Articles of Incorporation in Maine?

To amend the Articles of Incorporation in Maine, you must file Articles of Amendment with the Secretary of State.

Can I make amendments to the purpose clause in the Articles of Incorporation in Maine?

Yes, you can make amendments to the purpose clause in the Articles of Incorporation in Maine.

Do I need to provide a reason for amending the Articles of Incorporation in Maine?

No, you do not need to provide a reason for amending the Articles of Incorporation in Maine.

What is the filing fee for amending the Articles of Incorporation in Maine?

The filing fee for amending the Articles of Incorporation in Maine is $60.

How long does it take to process an amendment to the Articles of Incorporation in Maine?

The processing time for an amendment to the Articles of Incorporation in Maine is typically 7-10 business days.

Can I change the registered agent’s information in the Articles of Incorporation in Maine?

Yes, you can change the registered agent’s information in the Articles of Incorporation in Maine.

Is there a specific form I need to use to file an amendment to the Articles of Incorporation in Maine?

Yes, you need to use the Articles of Amendment form provided by the Maine Secretary of State.

Can I amend the Articles of Incorporation without the approval of the shareholders in Maine?

It depends on the provisions in your current Articles of Incorporation, but typically shareholder approval is required in Maine.

Will amending the Articles of Incorporation affect my business’s standing in Maine?

Yes, amending the Articles of Incorporation may affect your business’s standing in Maine, so it’s important to follow the proper procedures.

What information do I need to include in the Articles of Amendment in Maine?

You need to include the name of the corporation, the date of filing the original Articles of Incorporation, and the specific amendments being made.

Can I expedite the processing of an amendment to the Articles of Incorporation in Maine?

Yes, you can expedite the processing of an amendment to the Articles of Incorporation in Maine for an additional fee.

Do I need to provide a copy of the amended Articles of Incorporation to the Maine Secretary of State?

Yes, you need to provide a copy of the amended Articles of Incorporation when filing the Articles of Amendment.

How do I obtain a certified copy of the amended Articles of Incorporation in Maine?

You can request a certified copy of the amended Articles of Incorporation from the Maine Secretary of State for an additional fee.

Can I make multiple amendments to the Articles of Incorporation in one filing in Maine?

Yes, you can make multiple amendments to the Articles of Incorporation in one filing in Maine.

What happens if there is a discrepancy between the original and amended Articles of Incorporation in Maine?

If there is a discrepancy between the original and amended Articles of Incorporation in Maine, the Secretary of State may request clarification or additional information.

Can I revert to the original Articles of Incorporation after filing an amendment in Maine?

No, once an amendment to the Articles of Incorporation has been filed in Maine, you cannot revert to the original version.

Are there any restrictions on the types of amendments I can make to the Articles of Incorporation in Maine?

There may be certain restrictions outlined in the Maine Business Corporation Act, so it’s important to review the regulations before making amendments.

Can I amend the name of the corporation in the Articles of Incorporation in Maine?

Yes, you can amend the name of the corporation in the Articles of Incorporation in Maine by filing an amendment.

What documentation do I need to provide to support the amendments in the Articles of Incorporation in Maine?

Depending on the amendments being made, you may need to provide additional documentation such as board resolutions or revised bylaws.

Are there any time limits for amending the Articles of Incorporation in Maine?

There are no specific time limits for amending the Articles of Incorporation in Maine, but it’s advisable to make amendments promptly when needed.

In Conclusion

Amending the Maine Articles of Incorporation may not involve numerous steps, but the process can be more complex than it appears. It’s crucial to carefully consider any changes to ensure they do not negatively impact your business or client relationships. Before proceeding with modifications and amendments, it is advisable to consult with an attorney or legal professional for guidance.

Due to the complicated structure, forming a corporation in Maine might be difficult. However, after forming the corporation, managing it seems to be more difficult for many people. A frequent change may or may not occur. But, every time you make a change, you must file the amendment with Maine SOS. It is also suggested that you do not make changes frequently as it may affect your brand in a reverse way.