The articles of association is the expression of shareholders' agreement, which stipulates the basic principles of the company's organization and activities, and is the articles of association of the company. Articles of association have the basic characteristics of legitimacy, authenticity, autonomy and openness. The articles of association, like the company law, bear the responsibility of adjusting the company's activities. As the basic principle of the company's organization and behavior, the articles of association are of great significance to the establishment and operation of the company. It is not only the foundation of the company's establishment, but also the soul of the company's survival.
Legal basis: Administrative Measures for the Formulation of Articles of Association of State-owned Enterprises.
Article 33 The directors appointed by the board of directors of a wholly state-owned company or the investor institution in a wholly state-owned company or a state-holding company shall be responsible for the authenticity, completeness, effectiveness and timeliness of the materials submitted to the investor institution in the process of formulating the articles of association of the state-owned enterprise, and shall bear corresponding legal responsibilities according to law if the losses of state-owned assets or other serious adverse consequences are caused.
Article 34 If the shareholder representative appointed by the investor institution in a wholly state-owned company or state-owned holding company violates the provisions of Article 29, causing losses of state-owned assets or other serious adverse consequences, he shall bear corresponding legal responsibilities according to law.