Non Profit Companies Section 25

For a section 25 company its memorandum and articles of association are the main and guiding instruments.

Non profit companies section 25. Caro has been made applicable to all companies from 1st january 2004. Thus section 25 companies are non profit companies incorporated and governed by the companies act 1956. What is a non profit making company.

Though the purposes for which such a company is formed is clearly laid down in sub section 1 of section 25 and are majorly charitable purposes. No stamping of memorandum or articles required for a section 25 companies. 231n j 501 c 29 qualified nonprofit health.

Section 25 companies are those companies which are formed for the sole purpose of promoting commerce art science religion charity or any other useful object and have been granted a licence by the central government recognizing them as such. Hud homes program where hud real estate owned reo properties can be purchased by hud approved nonprofit organizations and governmental entities at a discount and during the exclusive listing period. Hud approved nonprofit organizations and governmental entities can participate in the following programs.

Contact us at 9818092002. Any association desirous of being incorporated as a company with limited liability without the addition of the word limited or the words private limited as the case may be shall make an application in writing to the registrar of companies formerly regional director on behalf of such company proposed company for grant of licence under section 25 of the companies act 1956. A minimum of 2 shareholders and 2 directors in case of private limited companies and a minimum of 7 shareholders and 3 directors in case of public limited companies.

The key requirements of non profit or section 25 companies are. 501 c 25 title holding corporations or trusts with multiple parents 501 c 26 state sponsored high risk health coverage organizations 501 c 27 state sponsored worker s compensation reinsurance organizations 501 c 28 national railroad retirement investment trust 45 u s c. Section 25 companies are non profit companies are granted license and registered as any other company and may be a public or private company.