Alabama Amendment to the articles of incorporation to eliminate par value
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How to fill out Amendment To The Articles Of Incorporation To Eliminate Par Value?
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FAQ
Yes, you can but some conditions apply. You can sell shares a higher price than the market price using Company's Buyback offer.
If you already have par value and you want to raise or lower it, things are a bit more complicated. Typically, you can't just make an amendment saying you now have a new par value. Instead, the most common way that corporations change their par value is with a stock split (or reverse stock split).
No-par stocks are those where the value of the stocks relies completely on the market, not at all based upon any guaranteed value (the par value) set at the issuance of the stocks.
Par value, which is also called par, nominal value, or face value, is the amount at which a security is issued or can be redeemed. No-par value stock doesn't have a redeemable price, rather prices are determined by the amount that investors are willing to pay for the stocks on the open market.
Limit Order to Sell: A trader or investor that already owns shares may place a limit order to sell at a price higher than the current market price. These are also known as take-profit orders (T/P) since the trader or investor is locking in profits.
The par value of shares sets only a bottom limit for your business, but the board of directors may set the price of stock at any amount above par. Let's say your par value is $. 01 but the board of directors sells stock to an investor for $5.00 per share. This is perfectly legal.
Capital surplus, or premium, is the excess remaining after common stock is sold for more than its par value. Capital surplus can also result from the proceeds of stock bought back and then resold and from donated stock.
A share may not be bought, sold or traded for less than the par value. Simply stated, if the par value of a share is $1.00, then it cannot be issued to an investor for less than a dollar, paid for in funds or services.