Capital Distributions From A Discretionary Trust

State:
Multi-State
Control #:
US-CC-4-188C
Format:
Word; 
Rich Text
Instant download

Description

The form outlines the proposed amendment to the Articles of Incorporation for a company, specifically addressing capital distributions from a discretionary trust. This amendment aims to grant the Board of Directors the flexibility to utilize capital surplus for dividends or share repurchases, as allowed under Georgia law. Key features include the stipulation that such distributions can only occur if the corporation is not insolvent and all accrued dividends must be paid first. The amendment is essential for facilitating shareholder distributions without requiring majority shareholder approval, making it easier for the Board to manage corporate finances. It highlights that capital surplus can be used strategically to enhance stock value or respond to acquisition attempts. The amendment is seen as beneficial for corporate strategy, potentially allowing for a more efficient response to market conditions and shareholder interests. Targeted users of this form include attorneys who assist in corporate governance, partners and owners interested in strategic corporate planning, associates managing legal compliance, and paralegals or legal assistants who facilitate documentation and shareholder communications.
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  • Preview Approval of amendment to articles of incorporation to permit certain uses of distributions from capital surplus
  • Preview Approval of amendment to articles of incorporation to permit certain uses of distributions from capital surplus
  • Preview Approval of amendment to articles of incorporation to permit certain uses of distributions from capital surplus

How to fill out Approval Of Amendment To Articles Of Incorporation To Permit Certain Uses Of Distributions From Capital Surplus?

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Capital Distributions From A Discretionary Trust