Capital Stock Vs Authorized Capital Stock In Suffolk
State:
Multi-State
County:
Suffolk
Control #:
US-0040-CR
Format:
Word;
Rich Text
Instant download
Description
The document titled 'Resolution of the Board of Directors' outlines the process and authorization for issuing common stock within a corporation in Suffolk. It differentiates between capital stock and authorized capital stock by specifying that capital stock refers to shares that have been issued, while authorized capital stock is the total number of shares a corporation is allowed to issue. The form includes sections for the names of individuals receiving shares, the number of shares issued, and the consideration for each issuance. Filling instructions advise users to complete all relevant sections accurately and to ensure that the resolution aligns with corporate bylaws. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants, as it provides a structured method for documenting stock issuances and maintaining legal compliance. Use cases include formalizing stock transactions during meetings, ensuring legal clarity in ownership, and adhering to regulatory requirements. Additionally, the document serves to protect against potential disputes by clearly recording the agreement reached by the Board of Directors.
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