Legal Definitions - corporator

A corporator is an individual who is a member of a corporation. This term can be understood in two primary ways:

• Most commonly, it refers to any individual who holds membership in an existing corporation, often by owning shares (a stockholder) in a for-profit company, or through a specific membership status in a non-profit organization.
• It can also refer more specifically to one of the original individuals who establish or organize a new corporation, often called an incorporator. These are the people who complete the initial legal steps to bring a corporation into existence.

It is important to understand that a corporator is an individual associated with the corporation, but is distinct from the corporation itself, which is a separate legal entity.

Examples:

• When Sarah purchased 200 shares of "Global Tech Solutions Inc.," a publicly traded company, she became a part-owner of the corporation. As a shareholder, Sarah is considered a corporator of Global Tech Solutions Inc., holding certain rights and responsibilities associated with her ownership stake.

  This example illustrates the common meaning of a corporator as a member of an existing corporation through stock ownership.

• David and Emily decided to launch a new eco-friendly cleaning product company, "GreenClean Innovations LLC." They were the two individuals who prepared and filed all the necessary legal documents with the state to formally register and establish the business entity. In this initial phase of creation, David and Emily acted as corporators (or incorporators), bringing the new company into legal existence.

  This example demonstrates the meaning of a corporator as one of the original organizers who establish a new corporation.

• The "Downtown Historical Society" is a non-profit corporation dedicated to preserving local heritage. Its bylaws state that individuals who contribute an annual membership fee become voting members with the right to elect board members. Maria, having paid her annual fee, is a corporator of the Downtown Historical Society, participating in its governance and supporting its mission.

  This example shows the term's application in a non-profit context, where a corporator is a member based on specific organizational criteria rather than stock ownership.