Stock Without Par Value

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

Description

The document outlines a proposal for changing the par value of the corporation's common stock from five dollars to one dollar per share. This adjustment aims to enhance the corporation's flexibility in issuing stock dividends and stock splits, which are limited under the current par value structure. The Board of Directors has recommended this change, believing it is in the best interests of the corporation and its shareholders. The document explains the concepts of capital account and surplus account, indicating how the change in par value affects these financial measures. For corporations with high par values, transferring amounts from the surplus account can complicate future stock distributions. The proposed change will not affect the actual value of shares or total shareholder's equity, as par value is largely nominal today. Target audiences, including attorneys, partners, owners, associates, paralegals, and legal assistants, can utilize this form to navigate corporate governance, ensuring compliance with state laws while facilitating smoother operations for stock-related transactions.
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FAQ

Articles of organization form your Connecticut LLC. Preparing and filing your articles of organization is the first step in starting your limited liability company (LLC). Approval of this document secures your business name and creates the legal entity of the LLC.

A certified copy of your Articles of Organization or Articles of Incorporation can be ordered by fax, mail, email or in person, but we recommend faxing. Normal processing takes up to 5 business days, plus additional time for mailing, and costs $55 for certification.

A certified copy of your Articles of Organization or Articles of Incorporation can be ordered by fax, mail, email or in person, but we recommend faxing. Normal processing takes up to 5 business days, plus additional time for mailing, and costs $55 for certification.

Connecticut LLC Cost. Connecticut's state fee for LLC formation is $120. Connecticut LLCs also need to file an annual report every year, which costs $80. Depending on your industry and business needs, you might have additional expenses, such as licensing fees, business insurance, and registered agent fees.

Secretary of the State Stephanie Thomas.

Connecticut Office of the Secretary of the State 165 Capitol Avenue. Mailing Address: Telephone: (860) 509-6200. Business Hours: Monday - Friday, a.m. to p.m. Secretary of the State, Stephanie Thomas. Deputy Secretary of the State, Jacqueline A. Kozin: (860) 509-6212.

You can easily change your Connecticut LLC name. The first step is to file a form called the Certificate of Amendment with the Secretary of State and wait for it to be approved. This is how you officially change your LLC name in Connecticut. The filing fee for a Certificate of Amendment in Connecticut is $120.

MAILING ADDRESS: Include street number, street name, city, state, and zip code. P.O. Box is acceptable. 4. APPOINTMENT OF REGISTERED AGENT: The Limited Liability Company may not be its own agent.

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Stock Without Par Value