Articles of association example sentences

A company has the power to charge interest on calls-in-arrears and is under an obligation to pay interest on calls-in-advance if it accepts them in accordance with the provisions of Articles of Association.Second, there must be an interval of at least one month between the making of two calls unless otherwise provided by the articles of association of the company.The amount of authorised capital, together with the number of shares in which it is divided, is stated in the Memorandum of Association but the classes of shares in which the company's capital is to be divided, alongwith their respective rights and obligations, are prescribed by the Articles of Association of the company.The management of a company is vested with the power to reissue the shares once forfeited by it, subject of course, to the terms and conditions in the articles of association relating to the same.The Articles of Association of a company usually empower the directors to change interest at a stipulated rate on calls in arrears.