Form with which a corporation may alter the amount of outstanding shares issued by the corporation.
Change Amount of Authorized Shares - Resolution Form - Corporate Resolutions
State:
Multi-State
Control #:
US-0034-CR
Format:
Word;
Rich Text
Instant download
Description
Definition and meaning
The Change Amount of Authorized Shares - Resolution Form is a legal document used by corporations to officially alter the number of shares authorized for issuance in their Articles of Incorporation. This resolution must be adopted by the shareholders or directors of the corporation and serves as a formal record of the decision made regarding the share structure.
Who should use this form
This form should be used by corporate officials, such as directors and shareholders, who need to amend the company's Articles of Incorporation to reflect changes in the authorized shares. It is particularly relevant for small business owners and corporate entities planning to raise additional capital or reorganize their share structure.
How to complete a form
To complete the Change Amount of Authorized Shares - Resolution Form, follow these steps:
- Enter the name of the corporation at the top of the form.
- Clearly state the current number of authorized shares and the new number being proposed.
- List the names of the directors or shareholders who are approving this change.
- Include the date when the resolution is adopted.
- Have the Secretary sign and date the certification section.
Key components of the form
The form includes several key components that are critical to its validity, including:
- Introduction Section: This outlines the purpose of the resolution.
- Resolution Text: Specific language that authorizes the change in share amounts.
- Signature Lines: Spaces for directors and the Secretary to sign and confirm the resolution.
- Certification Section: A declaration by the Secretary validating the resolution’s adoption.
Common mistakes to avoid when using this form
When completing the Change Amount of Authorized Shares - Resolution Form, avoid these common errors:
- Failing to accurately state the current and new authorized share amounts.
- Not obtaining the necessary approvals from all required shareholders or directors.
- Leaving the certification section unsigned by the Secretary.
- Submitting the form without checking for compliance with state-specific requirements.
Benefits of using this form online
Using the Change Amount of Authorized Shares - Resolution Form online offers several advantages:
- Convenience: Access the form anytime and anywhere.
- Time-efficient: Less time spent on searching for physical copies.
- Cost-effective: Save on handling and printing costs.
- Simplified Process: Guidance is often provided for completing forms accurately.
Free preview
How to fill out Change Amount Of Authorized Shares - Resolution Form - Corporate Resolutions?
Aren't you sick and tired of choosing from hundreds of templates every time you need to create a Change Amount of Authorized Shares - Resolution Form - Corporate Resolutions? US Legal Forms eliminates the wasted time countless American citizens spend searching the internet for perfect tax and legal forms. Our professional group of attorneys is constantly updating the state-specific Forms catalogue, to ensure that it always offers the proper files for your situation.
If you’re a US Legal Forms subscriber, simply log in to your account and click on the Download button. After that, the form are available in the My Forms tab.
Visitors who don't have a subscription should complete a few simple actions before having the ability to download their Change Amount of Authorized Shares - Resolution Form - Corporate Resolutions:
- Make use of the Preview function and look at the form description (if available) to ensure that it is the proper document for what you’re trying to find.
- Pay attention to the validity of the sample, meaning make sure it's the proper sample for the state and situation.
- Utilize the Search field on top of the site if you want to look for another file.
- Click Buy Now and select an ideal pricing plan.
- Create an account and pay for the services utilizing a credit card or a PayPal.
- Download your sample in a convenient format to complete, create a hard copy, and sign the document.
Once you have followed the step-by-step instructions above, you'll always have the capacity to log in and download whatever file you need for whatever state you require it in. With US Legal Forms, completing Change Amount of Authorized Shares - Resolution Form - Corporate Resolutions templates or other legal paperwork is not difficult. Get started now, and don't forget to recheck your examples with accredited attorneys!
Form popularity
FAQ
The answer should be C. The total amount of shares that can be distributed.
If you know the number of shares issued and unissued, or those authorized but not sold to shareholders, you can calculate authorized shares: shares authorized = shares issued + shares unissued.
However, a company commonly has the right to increase the amount of stock it's authorized to issue through approval by its board of directors. Also, along with the right to issue more shares for sale, a company has the right to buy back existing shares from stockholders.
Authorized stock, or authorized shares, refers to the maximum number of shares that a corporation is legally permitted to issue, as specified in its articles of incorporation in the U.S., or in the company's charter in other parts of the world.
Authorised shares are units of ownership in the company available to be issued to shareholders. Issued shares are the units of ownership already issued to shareholders.No par value means that there is no standard value attached to the shares.
Issued and outstanding refers to the number of shares actually issued by a company to shareholders, and does not include shares that others may have an option to purchase.
Companies issue stock to raise funds from investors. Authorized stock is the maximum number of shares a company can issue.Issued stock is what the company has issued, which is less than the authorized stock.
Authorized shares are the maximum number of shares a company is allowed to issue to investors, as laid out in its articles of incorporation. Outstanding shares are the actual shares issued or sold to investors from the available number of authorized shares.
Issued shares are those that the owners have decided to sell in exchange for cash, which may be less than the number of shares actually authorized. Shares issued generate the assets or other value given for founding a company or growing it later on.