Virginia Terms of Class One Preferred Stock
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FAQ
One or more classes or series of shares, which may be the same class or classes or series as those with voting rights, that together are entitled to receive the net assets of the corporation upon dissolution.
Distributions to shareholders. A. The board of directors may authorize and the corporation may make distributions to its shareholders, subject to restriction by the articles of incorporation and the limitation in subsection C.
When a corporation has only one class of stock, it is identified as common stock.