Form with which a corporation may alter the amount of outstanding shares issued by the corporation.
The Tennessee Change Amount of Authorized Shares — Resolution For— - Corporate Resolutions is a legal document used by corporations in the state of Tennessee to officially change the number of authorized shares in their company. This form is an important tool for companies to keep their records up to date and to comply with state laws. The primary purpose of this form is to inform the Tennessee Secretary of State that the corporation wishes to change the amount of authorized shares it has. Authorized shares refer to the maximum number of shares that a company can issue to its shareholders. By changing the authorized shares, a company can adjust its capital structure and make room for new shareholders or other financial decisions. This form requires various details to be filled out accurately. First and foremost, the legal name of the corporation, along with its principle place of business, must be provided. The date of the resolution and the file number assigned to the corporation by the Secretary of State's office are also required. The form also asks for the specific details of the change in authorized shares. This includes mentioning the existing number of authorized shares and stating the new number of authorized shares sought. It is crucial to state the new number clearly, so there is no ambiguity or confusion. Furthermore, the form requires the signature of an authorized representative of the corporation. This person's name, title, and contact information should be provided to validate the submission. It is essential to ensure that the individual signing the form has the legal authority to do so on behalf of the corporation. It is worth noting that the Tennessee Change Amount of Authorized Shares — Resolution For— - Corporate Resolutions may also have different variations or types based on specific circumstances. For example, there may be different forms for corporations seeking to increase their authorized shares, decrease their authorized shares, or convert their authorized shares into different classes or series. The different types of Tennessee Change Amount of Authorized Shares — Resolution For— - Corporate Resolutions can include forms such as: 1. Increase of Authorized Shares Resolution Form: Used when a corporation wants to increase the number of authorized shares available to issue. 2. Decrease of Authorized Shares Resolution Form: This form is used when a corporation wants to decrease the number of authorized shares it currently has. 3. Conversion of Authorized Shares Resolution Form: Employed when a corporation wishes to convert its authorized shares into different classes or series, such as preferred shares or common shares. These various forms allow corporations to make specific changes to their capital structure depending on their evolving needs and requirements. In conclusion, the Tennessee Change Amount of Authorized Shares — Resolution For— - Corporate Resolutions is a significant legal document used by corporations in Tennessee to officially change the number of authorized shares. By accurately completing this form, corporations can ensure compliance with state laws and keep their records up to date. The different types of forms cater to different scenarios, such as increasing, decreasing, or converting authorized shares.
