Dissolved Titan Financial Group - Corporation Registration

[PvM2Max]

Username: PvM2Max

Business Name Titan Financial Group

Type of Firm Corporation

Purpose of Business Financial services, including commercial banking, deposit-taking, lending, investment management, and financial advisory services within the Commonwealth of Redmont, subject to registration and compliance requirements under the Commercial Standards Act. Titan Financial Group is a wholly-owned subsidiary of Titan Group LLC.

Management Structure Board of Directors with one (1) seat. PvM2Max (Forum: PvM2Max) serves as sole Director and President, appointed by Titan Group LLC as sole shareholder.

Ownership Details Wholly-owned subsidiary of Titan Group LLC (TitanHoldings). Two classes of stock authorized:

Class A — Voting & Dividend Stock: 1,000 shares authorized, no par value. All 1,000 shares initially held by Titan Group LLC (100% of voting power). Class A shares carry both voting rights and dividend rights.

Class B — Dividend Stock: 9,000 shares authorized, no par value. Non-voting. Class B shares carry dividend rights only. Available for sale at the discretion of the Board.

Transfer Restrictions: All share sales (Class A and Class B) require approval by simple majority vote of Class A shareholders.

Dividend Distribution: Dividends are calculated based on total owned (issued and sold) shares only. Unsold/unissued shares are excluded from dividend calculations. Dividends split proportionally among all owned shares (both Class A and Class B).

Total authorized shares: 10,000. One shareholder at formation (Titan Group LLC).

Relevant Certificate File(s) attached

Contact Information IGN: PvM2Max | Forum: PvM2Max | Discord: PvP2Max | Registered Agent for Titan Financial Group

By submitting this form, do you acknowledge that all information provided is truthful and accurate to the best of your knowledge? Yes

 

[EATB]

Hi @PvM2Max thank you for your registration submission!

You'll need to incorporate the following in order to proceed:

• Establish a Par Value - Article V of the Certificate of Incorporation does not specify a par value for either Class A or Class B shares. This fails to meet the statutory requirement under Part IV, Section 1(2)(e)(iii) of the Legal Entity Act for the certificate to set the par value per share.
• How to issue new shares - The incorporation document lacks a full methodology for issuing new shares. Article V, Section 5.5 stipulates that issuance requires approval by a simple majority of Class A stock; it does not outline the process (e.g., who proposes, at what price, etc), failing to meet the policy requirement.
• How to transfer shares: the certificate lacks a methodology for share transfers. Article V, Section 5.5. states that the "The sale, transfer, or issuance of any shares of either Class A or Class B
  Stock shall require approval by a simple majority vote of the holders of Class A Stock." This does not outline a process for how a shareholder would request a transfer or the mechanism by which it would be approved, failing to meet the policy requirement.
• When amending the Certificate of Incorporation, it should require the majority of shareholders to approve - Article IX, Section 9.2. requires the approval of "TitanGroup LLC as the holder of the majority of Class A Stock." This is the approval of a specific shareholder, not a majority of all shareholders. This does not meet the policy requirement that "The Certificate of Incorporation must be amended by a stockholder vote of at least a majority."
• Changes to share numbers, par value, or changing their powers should require a majority vote - Article IX, Section 9.2 and Article V, Section 5.5. Both give sole power to the "holders of Class A Stock"; it does not provide for a class B vote. Part IV, Section 2(4) states:

(4) The holders of the outstanding shares of a class shall be entitled to vote as a class upon a proposed amendment needing at least a majority in each class, whether or not entitled to vote thereon by the Certificate of Incorporation where the amendment seeks to:

(a) increase or decrease the aggregate number of authorised shares of such class;

• How Directors can be appointed or fired - The document lacks a process for hiring or firing directors beyond the initial appointment. Article VI, Section 6.3 states directors serve until "their resignation, removal by the sole shareholder, or other disqualification under the Legal Entity Act." It does not detail how the sole shareholder would remove a director or how new directors would be hired, failing to meet the policy requirement.
• Define the roles and responsibilities of shareholders - There is no dedicated section outlining the roles and responsibilities of shareholders, aside from their voting powers.
• Mechanisms for dispute resolution - This certificate lacks mechanisms for resolving disputes between shareholders.
• Bylaws - The Certificate lacks mention of Bylaws and how they are authorised, amended, or interact with the certificate. This fails to meet policy requirements.
• Exit strategies - You should include provisions for what happens in the event of a shareholder's incapacitation or desire to divest shares.
• Identify shareholders as parties to the agreement - Whilst the document identifies the initial shareholder, Titan Group LLC, it does not contain a section that formally identifies the corporation and its shareholders as parties to the agreement.
• Dissolution - The document does not specify how the dissolution process is initiated. Article X mentions dissolution but not the initiating body or action. This fails to meet the policy requirement. You should also create a process for dissolution (e.g., voting, winding up, paying creditors). Article X simply states the corporation shall continue until dissolved.
• Shareholder information and meetings - The certificate lacks details on how shareholders will be provided with information about the company or how meetings will be conducted.

Please make sure to read the Legal Entity Act and our Business Incorporation policy.

 

[PvM2Max]

Hi @PvM2Max thank you for your registration submission!

You'll need to incorporate the following in order to proceed:

• Establish a Par Value - Article V of the Certificate of Incorporation does not specify a par value for either Class A or Class B shares. This fails to meet the statutory requirement under Part IV, Section 1(2)(e)(iii) of the Legal Entity Act for the certificate to set the par value per share.
• How to issue new shares - The incorporation document lacks a full methodology for issuing new shares. Article V, Section 5.5 stipulates that issuance requires approval by a simple majority of Class A stock; it does not outline the process (e.g., who proposes, at what price, etc), failing to meet the policy requirement.
• How to transfer shares: the certificate lacks a methodology for share transfers. Article V, Section 5.5. states that the "The sale, transfer, or issuance of any shares of either Class A or Class B
  Stock shall require approval by a simple majority vote of the holders of Class A Stock." This does not outline a process for how a shareholder would request a transfer or the mechanism by which it would be approved, failing to meet the policy requirement.
• When amending the Certificate of Incorporation, it should require the majority of shareholders to approve - Article IX, Section 9.2. requires the approval of "TitanGroup LLC as the holder of the majority of Class A Stock." This is the approval of a specific shareholder, not a majority of all shareholders. This does not meet the policy requirement that "The Certificate of Incorporation must be amended by a stockholder vote of at least a majority."
• Changes to share numbers, par value, or changing their powers should require a majority vote - Article IX, Section 9.2 and Article V, Section 5.5. Both give sole power to the "holders of Class A Stock"; it does not provide for a class B vote. Part IV, Section 2(4) states:

• How Directors can be appointed or fired - The document lacks a process for hiring or firing directors beyond the initial appointment. Article VI, Section 6.3 states directors serve until "their resignation, removal by the sole shareholder, or other disqualification under the Legal Entity Act." It does not detail how the sole shareholder would remove a director or how new directors would be hired, failing to meet the policy requirement.
• Define the roles and responsibilities of shareholders - There is no dedicated section outlining the roles and responsibilities of shareholders, aside from their voting powers.
• Mechanisms for dispute resolution - This certificate lacks mechanisms for resolving disputes between shareholders.
• Bylaws - The Certificate lacks mention of Bylaws and how they are authorised, amended, or interact with the certificate. This fails to meet policy requirements.
• Exit strategies - You should include provisions for what happens in the event of a shareholder's incapacitation or desire to divest shares.
• Identify shareholders as parties to the agreement - Whilst the document identifies the initial shareholder, Titan Group LLC, it does not contain a section that formally identifies the corporation and its shareholders as parties to the agreement.
• Dissolution - The document does not specify how the dissolution process is initiated. Article X mentions dissolution but not the initiating body or action. This fails to meet the policy requirement. You should also create a process for dissolution (e.g., voting, winding up, paying creditors). Article X simply states the corporation shall continue until dissolved.
• Shareholder information and meetings - The certificate lacks details on how shareholders will be provided with information about the company or how meetings will be conducted.

Please make sure to read the Legal Entity Act and our Business Incorporation policy.

Incorporation Articles have been modified.

 

[Dept. Commerce]

Accepted

Your Business has been filed with the DOC! Please go to the company docket and create the docket post for your corporation there.

It is your responsibility to keep your company docket up to date. If you have any questions, feel free to open a ticket with the DOC.