Revocation of Charter
/ˌrɛvəˈkeɪʃən əv ˈtʃɑrtər/
Definitions
- (n.) The formal annulment or cancellation of a corporate charter by an authorized governmental agency, resulting in the termination of the corporation's legal existence.
The state initiated a revocation of charter due to the company's repeated regulatory violations.
- (n.) The process by which a legally granted charter is withdrawn, nullifying the rights and privileges conferred upon the corporation or organization.
Revocation of charter can occur when an organization fails to comply with statutory requirements.
Forms
- revocation of charter
Related terms
See also
Commentary
Often involves statutory or administrative procedures; drafters should clearly specify grounds and authority for revocation in governing documents or statutes.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.