Authorized Shares Formula In Ohio
State:
Multi-State
Control #:
US-0034-CR
Format:
Word;
Rich Text
Instant download
Description
The Authorized Shares Formula in Ohio is an essential legal document for corporations that outlines the framework for amending and restating Articles of Incorporation. This resolution facilitates necessary updates to corporate structure and share allocation, ensuring compliance with Ohio law. Key features include provisions for authorizing corporate officers to execute necessary documents, signaling a clear delegation of powers within the company. Users must carefully fill in specific details, such as the corporation's name and the date of adoption, to ensure accuracy. It's vital for the Secretary to certify the resolution, confirming that it has been duly adopted. The form is particularly useful for attorneys, partners in a corporation, and corporate officers who must frequently navigate changes in stock structure. It serves as a crucial tool for paralegals and legal assistants who prepare required filings and assist in corporate governance. By clearly outlining the authorized shares, this document helps maintain transparency and accountability within the corporation.
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FAQ
“Authorized shares” refers to the number of shares the corporation is allowed to issue under its certificate or articles of incorporation. 10 to 15 million is a commonly used range (we set 10 million as default for the Cooley GO Docs Incorporation Package).
You can find the balance sheet in its annual report or in any of its quarterly reports. Locate the stockholders' equity section, which is toward the bottom of the balance sheet. There should be a "common stock" section, which can tell you the number of issued shares as well as the number of authorized shares.
