Form with which a corporation may alter the amount of outstanding shares issued by the corporation.
The Arizona Change Amount of Authorized Shares — Resolution For— - Corporate Resolutions is a legal document specific to Arizona corporations. This form is used to officially change the number of authorized shares that a corporation can issue. Companies may need to change the amount of authorized shares for various reasons such as fundraising, mergers or acquisitions, employee stock options, or to accommodate future growth. By amending the number of authorized shares, the corporation can adjust its capital structure and allow for additional stock issuance if necessary. This resolution form is created to ensure that the process of changing the authorized shares is conducted in a transparent and lawful manner. It outlines the necessary information and steps that need to be followed by the corporation's board of directors to effect this change. The form typically includes sections for important details such as the corporation's name, the date of the resolution, and the specific number of shares to be added or removed. It also includes spaces for the signatures of the board members, acknowledging their approval and consent for this change. In addition, the form might include provisions related to any applicable restrictions on share transfers or limitations on issuance of new shares. This is to ensure compliance with existing laws, bylaws, articles of incorporation, or any other relevant governing documents. It is important to note that there may be variations of this form depending on the specific needs of the corporation. Some possible types or variations of the Arizona Change Amount of Authorized Shares — Resolution For— - Corporate Resolutions may include: 1. Initial Authorization: This type of resolution form is used when a corporation is being established and its initial authorized share capital is determined. 2. Increase of Authorized Shares: This form is used when a corporation wants to increase the number of authorized shares it can issue. The purpose could be to raise additional capital or to accommodate future expansion plans. 3. Decrease of Authorized Shares: This type of form is used when a corporation wants to decrease the number of authorized shares it can issue. This can be appropriate if the company has excess authorized shares that are no longer needed or to align with changing business conditions. 4. Restricted Stock Amendment: This variation of the form is used to amend the conditions or restrictions on the issuance or transfer of specific classes of shares, known as restricted stock. This can include modifying vesting schedules, transfer restrictions, or other conditions. In summary, the Arizona Change Amount of Authorized Shares — Resolution For— - Corporate Resolutions is a legal document that enables Arizona corporations to officially change the number of authorized shares they are allowed to issue. Various types or variations of this form exist depending on the specific circumstances, such as initial authorization, increase or decrease of authorized shares, or amendments to restricted stock provisions.
