Question

Which of the following is true under the Model Business Corporation Act regarding who may serve as an incorporator of a corporation?

Multiple Choice

A single person or a partnership may act as an incorporator, but neither an unincorporated    association nor another corporation may act as an incorporator.

At least three natural persons who are adults must serve as the incorporator.

A single person, a partnership, an unincorporated association, or another corporation may act as an incorporator.

A single person may act as an incorporator, but neither a partnership, an unincorporated    association, nor another corporation may act as an incorporator.

Answer 1

The True answer is

A single person, a partnership, an unincorporated association, or another corporation may act as an incorporator.

Explanation:

As per Model Business Corporation Act, One or more "persons" can act as the incorporator or incorporators of a corporation.

And the Act defines person and entity as follows:

• The term "Person" includes an individual and an entity.
• The term “Entity” includes domestic and foreign business corporation; domestic and foreign nonprofit corporation; estate; trust; domestic and foreign unincorporated entity; and state, United States, and foreign government.

Since single person, a partnership, an unincorporated association, or another corporation are all covered under the definition of person, they can serve as incorporators of a corporation.