Ohio Authority to Issue Additional Shares

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Multi-State
Control #:
US-CC-12-1931
Format:
Word; 
Rich Text
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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.
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FAQ

Stating a corporate purpose Ohio does not require a corporate purpose in the articles of incorporation. If no purpose is specified, the purpose of your corporation is to engage in any lawful act or activity for which a corporation may be formed.

(A) If initial directors are not named in the articles, before subscriptions to shares have been received and before the incorporators have elected directors, the incorporators may adopt an amendment to the articles by a writing signed by them.

Ohio Revised Code section 1701.591 requires close corporations to have a close corporation agreement. This agreement must be approved by every single shareholder of the company.

(1) The shareholders of the issuing public corporation who hold shares as of the record date of such corporation entitling them to vote in the election of directors authorize the acquisition at the special meeting held for that purpose at which a quorum is present by an affirmative vote of a majority of the voting ...

Section 1701.01 | General corporation law definitions. As used in sections 1701.01 to 1701.98 of the Revised Code, unless the context otherwise requires: (A) "Corporation" or "domestic corporation" means a corporation for profit formed under the laws of this state.

Section 1701.86 | Voluntary dissolution. (A) A corporation may be dissolved voluntarily in the manner provided in this section, provided the provisions of Chapter 1704.

Whoever knowingly and willfully obstructs or retards the passage of the mail, or any carrier or conveyance carrying the mail, shall be fined under this title or imprisoned not more than six months, or both. (June 25, 1948, ch. 645, 62 Stat.

All corporations must incorporate with the Ohio Secretary of State to lawfully conduct business in Ohio. A corporation must file Articles of Incorporation (Articles) with the Ohio Secretary of State before it transacts business in Ohio.

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Ohio Authority to Issue Additional Shares