Guam Amendment to the articles of incorporation to eliminate par value

State:
Multi-State
Control #:
US-CC-3-243
Format:
Word; 
Rich Text
Instant download

Description

This sample form, a detailed Amendment to the Articles of Incorporation to Eliminate Par Value document, is a model for use in corporate matters. The language is easily adapted to fit your specific circumstances. Available in several standard formats.

Guam Amendment to the Articles of Incorporation to Eliminate Par Value: A Comprehensive Overview In Guam, business entities planning to eliminate the par value of their shares can utilize a Guam Amendment to the Articles of Incorporation. This process involves modifying the company's original Articles of Incorporation to remove the nominal par value associated with each share. By doing so, companies gain increased flexibility in setting the price of their shares, which enables various benefits and possibilities. The Guam Amendment to the Articles of Incorporation allows companies to eliminate par value and replace it with "no par value" or designate a specific amount for their shares, as deemed appropriate for their business needs. This amendment is typically executed through the following steps: 1. Preparation: The company's board of directors thoroughly evaluates the implications and potential advantages of eliminating par value. A detailed plan is developed, specifying the proposed amendments to be made to the Articles of Incorporation. 2. Resolutions: A meeting of the board of directors is held to pass appropriate resolutions approving the Guam amendment. The resolutions should explicitly state the intent to eliminate par value and outline the desired changes to the Articles of Incorporation. 3. Drafting and Filing: Legal counsel prepares the necessary documents for the amendment, including an amended Articles of Incorporation. This document reflects the intended removal of par value and any other relevant modifications. Once completed, the amended Articles of Incorporation are filed with the Guam Department of Revenue and Taxation, Corporation Division. 4. Approval: The Guam Department of Revenue and Taxation reviews the application for compliance with legal requirements. If the submitted amendment satisfies all necessary criteria, it will be approved, and the amended Articles of Incorporation will be returned to the company. Different Types of Guam Amendments to the Articles of Incorporation to Eliminate Par Value: 1. Complete Elimination: This type of amendment removes the par value of all shares entirely and replaces it with "no par value." Companies opting for this type gain maximum flexibility in setting their share prices, allowing for market-driven valuations. 2. Partial Elimination: In some cases, companies may choose to eliminate par value for only a particular class or series of shares. This could be done to maintain par value for specific shareholders or to ensure distinct voting or dividend rights associated with those shares. 3. Replace Par Value with Stated Value: Instead of entirely eliminating par value, companies may elect to replace it with a stated value. The stated value acts as a minimum value assigned to shares for legal purposes while still offering flexibility in determining the market price. Keywords: Guam, Amendment, Articles of Incorporation, eliminate, par value, no par value, shares, flexibility, price, business entity, resolution, legal counsel, Department of Revenue and Taxation, compliance, complete elimination, partial elimination, stated value.

Free preview
  • Preview Amendment to the articles of incorporation to eliminate par value
  • Preview Amendment to the articles of incorporation to eliminate par value

How to fill out Guam Amendment To The Articles Of Incorporation To Eliminate Par Value?

If you want to total, acquire, or print out legal record web templates, use US Legal Forms, the largest selection of legal varieties, which can be found on the Internet. Utilize the site`s simple and convenient lookup to obtain the paperwork you require. Different web templates for business and specific purposes are sorted by types and suggests, or search phrases. Use US Legal Forms to obtain the Guam Amendment to the articles of incorporation to eliminate par value with a few clicks.

When you are previously a US Legal Forms customer, log in for your account and click the Download option to have the Guam Amendment to the articles of incorporation to eliminate par value. You can even gain access to varieties you in the past saved within the My Forms tab of your respective account.

Should you use US Legal Forms for the first time, follow the instructions under:

  • Step 1. Ensure you have chosen the form for that proper area/country.
  • Step 2. Take advantage of the Review option to look over the form`s content material. Never forget to see the outline.
  • Step 3. When you are unhappy using the type, make use of the Research area on top of the monitor to find other types of your legal type template.
  • Step 4. After you have located the form you require, go through the Buy now option. Choose the rates plan you favor and add your credentials to register to have an account.
  • Step 5. Procedure the financial transaction. You should use your bank card or PayPal account to accomplish the financial transaction.
  • Step 6. Pick the formatting of your legal type and acquire it on your system.
  • Step 7. Complete, modify and print out or signal the Guam Amendment to the articles of incorporation to eliminate par value.

Each and every legal record template you acquire is the one you have permanently. You have acces to each and every type you saved inside your acccount. Click on the My Forms area and choose a type to print out or acquire yet again.

Be competitive and acquire, and print out the Guam Amendment to the articles of incorporation to eliminate par value with US Legal Forms. There are many skilled and express-certain varieties you can use for your personal business or specific requirements.

Form popularity

FAQ

This legal document contains general information about the corporation, that includes its business name, address and other essential information. It is the primary document of authentication of the company, and the Registrar of Companies (ROC) issues this document.

An entrepreneur needs to submit the following documents for the incorporation of a company. (a) Memorandum of association. (b) Articles of association. (c) Written approval of the proposed directors to function as directors and an undertaking to buy the qualification shares.

A corporation, sometimes called a C corp, is a legal entity that's separate from its owners. Corporations can make a profit, be taxed, and can be held legally liable. Corporations offer the strongest protection to its owners from personal liability, but the cost to form a corporation is higher than other structures.

Articles of Incorporation refers to the highest governing document in a corporation. It is also known known as the corporate charter. The Articles of Incorporation generally include the purpose of the corporation, the type and number of shares, and the process of electing a board of directors.

Incorporators and Board of Directors in the Philippines Where the capital stock consists of no-par value shares, the subscriptions must be paid in full. The minimum paid-up capital is P5,000.

The Guam Business Corporation Act (the "Guam Act") updates Guam's general corporation laws, creating uniformity with the corporate laws of other jurisdictions, while tailoring certain statutes to accomplish Guam's long-standing objective to attract off-island interest and facilitate investment in local businesses.

The Articles of Incorporation states the name, purpose, place of office, incorporators, capital stock, and term of the Company upon its establishment. The By-Laws outline the rules on annual and special meetings, voting, quorum, notice of meeting and auditors and inspectors of election.

Interesting Questions

More info

(a) Articles of incorporation include amended articles of incorporation and articles of merger. (b) Authorized shares means the shares of all classes a domestic ... BANKGUAM HOLDING COMPANY, a Guam Corporation (the “Company”), hereby certifies that: 1. The First Amended and Restated Articles of Incorporation of the Company ...... par value $0.01 per share (“Common Stock”), and 50,000,000 (Fifty Million) shares are classified as preferred stock, par value $0.01 per share (“Preferred Stock ... We can help you change your business information including your name, address, registered agent, and other details by filing Articles of Amendment. Articles of Incorporation: Contents. § 13108. Bylaws: Adoption, Repeal and Amendment: Permissible. Provisions. § 13109. Management of Affairs: Directors. (23) Voting group means all shares of one or more classes or series that under the articles of incorporation or this Act are entitled to vote and be counted ... Oct 20, 1982 — AN ACT TO AMEND THE GENERAL CORPORATION LAW. AND THE UNIFORM SECURITIES ACT TO FACILITATE. THE FORMATION AND OPERATION OF DOMESTIC INVEST-. MENT ... The articles of incorporation may also provide for the issuance and sale of preferred stock in such amount as is fixed by the articles or by amendments thereto, ... Article Four of the Second Amended and Restated Articles of Incorporation of the Company is hereby amended by deleting the first paragraph in its entirety ... Follow the instructions below to complete Amendment to the articles of incorporation to eliminate par value online easily and quickly: Log in to your account.

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

Guam Amendment to the articles of incorporation to eliminate par value