Par Value For Stock Split

State:
Multi-State
Control #:
US-CC-3-215A
Format:
Word; 
Rich Text
Instant download

Description

The document outlines a resolution proposed by the Board of Directors of the Bank of Granite Corporation to amend the par value of its common stock from $5.00 to $1.00 per share. This change aims to enhance the corporation's flexibility in issuing stock dividends and conducting stock splits, which are limited under existing par value regulations. Users will find that this form facilitates crucial corporate adjustments, enabling smoother financial operations in future stock transactions while maintaining total shareholder equity unchanged. For attorneys, partners, and owners, it provides clarity on the legal implications of par value changes and outlines proper procedures set forth by state corporation law. Paralegals and legal assistants benefit from the clear instructions on how to complete and file the necessary amendments to the corporation's Articles of Incorporation. This form serves as a practical tool for those involved in corporate governance, ensuring compliance with legal requirements and protecting the interests of shareholders. Overall, the document illustrates key financial concepts and aids in the strategic decision-making process regarding capital structure modifications.
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Par Value For Stock Split