It has to be within the states corporation act and the corporation choose to have it in its bylaws. The various states have different requirements and thats why someone like ERHC would be domiciled in Houston TX and incorporated in Colorado, when I first started in accounting Delaware was the state of choice, I think a lot of states have changed their laws over the years because I am not aware of there being a state of preference right now. I am in Illinois and we have a lot of companies incorporate here, 20 years ago no one was setting up an Illinois corporation. Had to do with number of directors, even a single stockholder company had to have three directors who got to run their board of directors, you had to give up control of your wholly owned corp.
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