Form with which a corporation may alter the amount of outstanding shares issued by the corporation.
The Oklahoma Change Amount of Authorized Shares — Resolution For— - Corporate Resolutions is a legal document used by corporations in Oklahoma to officially change the amount of authorized shares in their company. This resolution form is essential to facilitate any increase or decrease in the number of authorized shares available for the corporation to issue. It is typically prepared and passed by the board of directors, and later ratified by the shareholders. The resolution form includes various key elements and sections that need to be carefully filled out for the process to be valid. These sections typically include: 1. Header: The form begins with a header stating the corporation's name, address, and other relevant details. 2. Title: The title of the form clearly states that it is a "Change Amount of Authorized Shares" resolution form. 3. Resolution statement: This section features the actual resolution statement, which indicates the intention to change the amount of authorized shares and the specific details of the change being proposed. 4. Identification of the current authorized shares: In this section, the current number of authorized shares is specified along with any relevant classes or series. 5. Proposed change of authorized shares: This section requires stating the desired change, whether it is an increase or decrease in the number of authorized shares. Specific details like the new number of shares, classes or series, and any other pertinent information must be provided. 6. Approval by the board of directors: The form usually includes a section for the board of directors to sign and approve the proposed change. 7. Ratification by the shareholders: Once the board of directors approves the change, the resolution form is typically presented to the shareholders for their ratification. There may be additional sections for the shareholders' signatures and any voting details. Types of Oklahoma Change Amount of Authorized Shares — Resolution Form— - Corporate Resolutions: 1. Increase in authorized shares: This form is used when a corporation wants to raise the number of authorized shares available for issuance to accommodate future capital expansions or shareholder requirements. 2. Decrease in authorized shares: This form is utilized when a corporation wishes to reduce the number of authorized shares either due to strategic reasons, consolidation, or any other relevant circumstances. In conclusion, the Oklahoma Change Amount of Authorized Shares — Resolution For— - Corporate Resolutions is a critical legal document that enables Oklahoma corporations to effect changes in their authorized share amounts. By using this form, corporations can make amendments to their corporate structure, ensuring compliance with state regulations and stakeholder requirements.
