Florida Authority to Issue Additional Shares

State:
Multi-State
Control #:
US-CC-12-1931
Format:
Word; 
Rich Text
Instant download

Description

This form may be used by a company's Board of Directors to allow for the purchase of additional stock beyond the original agreement with a second party. The form specifically states the conditions under which the additional purchase will be allowed.

Florida Authority to Issue Additional Shares is a legal provision that grants a corporation registered in the state of Florida the power to increase its authorized share capital by issuing additional shares. This authority allows corporations to secure additional funding, expand their operations, or accommodate new shareholders. Florida's law provides several types of Authority to Issue Additional Shares, namely: 1. General Authority: Under the Florida Business Corporation Act (FCA), every corporation initially receives a general authority to issue shares as stated in its articles of incorporation. This default provision allows the corporation to issue additional shares within the limits specified in its articles or bylaws. 2. Preemptive Rights: Shareholders may have preemptive rights as outlined in their articles of incorporation or a shareholder agreement. Preemptive rights grant existing shareholders the priority to purchase a proportional number of additional shares before they are offered to third parties or new investors. 3. Amendment of Articles: Corporations can seek the authorized share capital enlargement through amending their articles of incorporation. This requires filing the proposed amendment with the Florida Department of State Division of Corporations. Once approved, the corporation can issue additional shares based on the revised articles. 4. Authorized Share Increase: Corporations can voluntarily increase their authorized share capital by passing a resolution in a meeting of shareholders. This process typically involves amending the articles of incorporation and filing the updated version with the state authority. 5. Emergency Share Issuance: In exceptional cases of emergency or necessity, the directors of a corporation can issue additional shares without shareholder approval. Such instances might occur to prevent bankruptcy or insolvency, resolve a financial crisis, or address unforeseen opportunities. 6. Stock Options and Employee Benefit Plans: Corporations often issue additional shares to fulfill stock options or other employee benefit plans. This allows employees to purchase or receive shares at a predetermined price or under specific conditions. It is crucial for corporations to comply with the requirements and procedures outlined in Florida law when exercising their Authority to Issue Additional Shares. This ensures transparency and protects shareholders' rights while facilitating the growth and financial stability of the corporation.

Free preview
  • Preview Authority to Issue Additional Shares
  • Preview Authority to Issue Additional Shares

How to fill out Florida Authority To Issue Additional Shares?

Have you been in a placement that you need to have files for possibly organization or person reasons just about every time? There are plenty of lawful papers web templates available on the Internet, but finding versions you can depend on isn`t effortless. US Legal Forms provides a huge number of form web templates, just like the Florida Authority to Issue Additional Shares, which can be composed in order to meet state and federal requirements.

In case you are presently informed about US Legal Forms site and possess your account, basically log in. Next, you may obtain the Florida Authority to Issue Additional Shares design.

Unless you have an profile and need to begin using US Legal Forms, adopt these measures:

  1. Discover the form you want and ensure it is for your proper city/area.
  2. Make use of the Review key to examine the shape.
  3. Browse the information to ensure that you have chosen the proper form.
  4. In case the form isn`t what you are seeking, use the Lookup area to obtain the form that fits your needs and requirements.
  5. Once you find the proper form, click on Buy now.
  6. Opt for the costs program you want, fill out the necessary info to make your money, and pay money for your order making use of your PayPal or charge card.
  7. Choose a convenient document format and obtain your backup.

Get each of the papers web templates you may have purchased in the My Forms menu. You may get a more backup of Florida Authority to Issue Additional Shares whenever, if required. Just click on the required form to obtain or produce the papers design.

Use US Legal Forms, one of the most considerable variety of lawful kinds, to save lots of efforts and stay away from blunders. The assistance provides professionally made lawful papers web templates which can be used for a selection of reasons. Create your account on US Legal Forms and commence making your daily life a little easier.

Form popularity

FAQ

Florida Statute 893.135(1)(a) ? Trafficking Cannabis This paragraph applies when a person sells, purchases, manufactures, delivers, brings into Florida, or possesses more than 25 pounds of cannabis or more than 300 cannabis plants.

607.01401 Definitions. ?As used in this chapter, unless the context otherwise requires, the term: (1) ?Acquired eligible entity? means the domestic or foreign eligible entity that will have all of one or more classes or series of its shares or eligible interests acquired in a share exchange.

Consideration in the form of a promise to pay money or a promise to perform services is received by the corporation at the time of the making of the promise, unless the agreement specifically provides otherwise.

The Florida Senate (1) Shares may but need not be represented by certificates. Unless this act or another statute expressly provides otherwise, the rights and obligations of shareholders are identical whether or not their shares are represented by certificates.

(a) As used in this section, ?control-share acquisition? means the acquisition, directly or indirectly, by any person of ownership of, or the power to direct the exercise of voting power with respect to, issued and outstanding control shares.

A written consent for the shareholders of a Florida corporation to take action without a meeting or prior notice by unanimous or less than unanimous written consent. This Standard Document has integrated notes with important explanations and drafting tips.

Section 607.0821 - Action by directors without a meeting (1) Unless the articles of incorporation or bylaws provide otherwise, action required or permitted by this chapter to be taken at a board of directors' meeting or committee meeting may be taken without a meeting if the action is taken by all members of the board ...

"Control share acquisition" means the direct or indirect acquisition, other than in an excepted acquisition, by any person of beneficial ownership of shares of a public corporation that, except for this article, would have voting rights and would, when added to all other shares of such public corporation which then ...

Interesting Questions

More info

Florida Statutes require that the number of shares a profit corporation is authorized to issue must be stated in its Articles of Incorporation. The number ... Feb 15, 2022 — You must include: The number of shares the corporation is authorized to issue. The classes of shares, and how many per class.Mar 31, 2015 — Each holder of a certificate or certificates that immediately prior to the Reverse Split Date represented outstanding shares of Old Common Stock ... If more than one class or series of shares is authorized, the articles of incorporation must prescribe a distinguishing designation for each class or series, ... A Florida corporation does not have the legal authority to issue more shares than the number of shares set forth in its articles of incorporation. Section ... (d) A limited partnership, including a limited liability limited partnership. (6) “Authorized shares” means the shares of all classes a domestic or foreign ... May 3, 2022 — Florida provides shareholders with the right to create voting trusts. Forming a voting trust with other shareholders can be useful for minority ... 607.0601 Authorized shares. 607.0602 Terms of class or series determined by board of directors. 607.0603 Issued and outstanding shares. 607.0604 Fractional  ... If you issue all your authorized shares but then need to grant more shares, you would need to authorize more shares. This requires a board and stockholder ... There is no minimum number of shares that must be authorized in the articles of incorporation. One or more shares may be authorized. However, the corporation ...

Trusted and secure by over 3 million people of the world’s leading companies

Florida Authority to Issue Additional Shares