On March 5, 1681, one day after receiving his royal charter for Pennsylvania, William Penn wrote that he believed God would make his colony “the seed of the nation.” Penn wanted his Pennsylvania to be a land where people of differing languages and customs could live together, where men and women could worship as they …

Persecuted in England for his Quaker faith, Penn came to America in 1682 and established Pennsylvania as a place where people could enjoy freedom of religion. Penn obtained the land from King Charles II as payment for a debt owed to his deceased father.

One of the original 13 colonies, Pennsylvania was founded by William Penn as a haven for his fellow Quakers. Pennsylvania’s capital, Philadelphia, was the site of the first and second Continental Congresses in 1774 and 1775, the latter of which produced the Declaration of Independence, sparking the American Revolution.

Pennsylvania is known as the Keystone State for its role in building the foundations of the United States of America – it is here that the Declaration of Independence, U.S. Constitution, and the Gettysburg Address were written.

Penn wanted his colony to be a place of religious freedom. Some of the first settlers were Welsh Quakers looking for a place where they could practice their religion without persecution. Throughout the early 1700s more people from Europe immigrated to Pennsylvania. Many of them came from Germany and Ireland.

Swedes were the first European settlers in Pennsylvania. Traveling up the Delaware from a settlement at the present site of Wilmington, Del., Gov. Johan Printz of the colony of New Sweden established his capital on Tinicum Island (New Gothenborg) in 1643.

One of the main reasons why Pennsylvania attracted a rich ethnic mix of settlers was “1. because of its policy of religious tolerance,” however William Penn’s positive relationship with the Natives certainly did not hurt immigration.

That’d be the Declaration of Independence, the Constitution of the United States and its first ten amendments, The Bill of Rights.

Virtually every significant founding document of the United States of America was signed in Philadelphia. This includes the Constitution of the United States and the Declaration of Independence. It also includes the Articles of Confederation (which was the first “working” constitution) and the Bill of Rights.

Explore the Documents

• Declaration of Independence.
• Constitution of the United States.
• Bill of Rights.

the Declaration of Independence

The 4 legal documents every adult should have

• A will. Also known as: a last will and testament.
• A living will. Also known as: an advance directive.
• Durable health care power of attorney. It appoints: a health care proxy.
• Durable financial power of attorney. It appoints: an attorney-in-fact or agent.

We’re not ashamed to declare the U.S. Constitution a magnificent document that, along with the Declaration of Independence, forms the greatest national charter in human history. No other document has ever guarded freedom the way it has, and no other contract has provided such a foundation for prosperity.

The most important document in the constitution of a company is the Memorandum of Association of the company. The Articles of Association is the second most important document that needs to be registered by any company for its incorporation, registration and subsequent operation.

The MOA is considered as the supreme document of the Company. The MOA has to be drafted very carefully as the AOA also has to comply with MOA. Moreover, the Company cannot go against anything that is mentioned in the MOA.

Share Transfer Limitations in AOA: A private limited company, like a Partnership company, is known to be a “closed organization” of shareholders. Therefore, the Articles of Association (AOA) may limit the transfer of shares to a Private Limited Company.

1972, a firm not being a person cannot be registered as a member of the Company. Such firm can be a member of section 8 company. In the case of partners, a firm as such cannot be registered as a member, but the partners in their individual names may be registered as joint holders of the shares.

Shareholders are also known as the members of a company. Under the Companies Act, 2013, any person can become a member and a person could mean an individual, body corporate or an association. The company law does not prescribe any disqualification, which would debar a person from becoming a shareholder of a company.

A person’s membership of a company may cease or come to an end in many ways,

1. i. Transfer.
2. ii. Forfeiture.
3. iii. Surrender of Shares.
4. iv. Death.
5. v. Bankruptcy.
6. vi. Sale by a Company in exercise of lien.
7. vii. Redemption of redeemable preference shares.
8. viii. Repudiation by an infant.

The following are the differences between members and shareholders: A member is a person who subscribed the memorandum of the company. A shareholder is a person who owns the shares of the company. All shareholders whose name are entered in the register of members are the members.

A shareholder is a person who buys and holds shares in a company having a share capital. They become a member once their name is entered on the register of members. Many companies limited by guarantee do not have a share capital, and consequently, their members are not shareholders. Do all members have equal rights?

Who can inspect the books of accounts of company?

• Director of the company. At any time during business hours of the company.
• Registrar of Companies (ROC) / Central Govt. At such time as RoC may specify in the notice served on the company.
• Creditors and contributories.
• Advisory committee.

Companies are required to send a copy of its annual accounts and reports for each financial year to every shareholder of the company. Shareholders are not however entitled to receive or inspect copies of general a company’s financial records.

This clause further provides that books of account of every company shall be kept in good order for eight years. In case, an investigation has been ordered, the Central Government shall have power to ask the company to keep the books of accounts for a period longer than eight years.

Maintaining Book of Accounts of Company – Online Information should retain the format in which it is generated and should remain complete and unaltered. Information provided by branch should not be altered. Electronic records should be capable of being displayed in legible form.

Where the income does not exceed Rs 1,20,000 or total sales, turnover or gross receipts are not more than 10,00,000 in all preceding 3 years — no books of account are required to be maintained.

Also sub section (1) of sec 209A provides that books of accounts can be inspected by the Registrar of Companies or officers authorized by the Central Government or SEBI during business hours. The books of accounts in this relation are required to be maintained for at least 8 years in case of existing companies.

As provided in sub-section (3) of Section 128, any director can inspect the books of accounts and other books and papers of the company during business hours. The expression “Books and Papers” has been defined in section 2(12) which includes accounts, deeds, vouchers, writings and documents.