Form with which a corporation may alter the amount of outstanding shares issued by the corporation.
The Maryland Change Amount of Authorized Shares — Resolution For— - Corporate Resolutions is a legal document used by corporations in the state of Maryland to change the number of authorized shares of stock in their company. This form allows corporations to increase or decrease the number of shares, as well as make any necessary adjustments to their capital structure. Keywords: Maryland, change, amount, authorized shares, resolution form, corporate resolutions. This form is crucial for corporations as it enables them to adapt their capital structure to meet their evolving business needs. By changing the amount of authorized shares, corporations can raise additional capital, issue new shares, or consolidate and reorganize their existing shares. The form typically consists of several sections, including: 1. Heading: This section includes the title of the document, usually stating "Maryland Change Amount of Authorized Shares — Resolution For— - Corporate Resolutions." It may also include the name of the corporation and the date. 2. Resolution: This is where the corporation states its intention to change the amount of authorized shares. It specifies whether the corporation wants to increase or decrease the number of shares and provides the desired new amount. This section also states the purpose of the change, such as to raise additional capital or restructure the company's ownership. 3. Approval: This section includes the names of the directors or shareholders who have approved the resolution. Their signatures and dates are required, indicating their consent and agreement to the proposed change. 4. Effective Date: The form includes a space to specify the effective date of the resolution. This date is essential as it determines when the change in the number of authorized shares takes effect. 5. Filing: To make the change official, the form often includes a section for indicating where and when it will be filed. This is vital for ensuring compliance with Maryland state laws and regulations. Different variations or types of Maryland Change Amount of Authorized Shares — Resolution For— - Corporate Resolutions could include forms specific to different types of corporations, such as C-corporations, S-corporations, nonprofit corporations, or professional corporations. These variations may include certain additional sections or requirements tailored to the specific type of corporation. Overall, this resolution form serves as a legal instrument for Maryland corporations to modify the number of authorized shares to suit their current and future growth needs, making it an essential document for any corporation seeking to effect changes to their capital structure.
