Washington Proposal to amend the articles of incorporation to increase authorized common stock and eliminate par value with amendment
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How to fill out Proposal To Amend The Articles Of Incorporation To Increase Authorized Common Stock And Eliminate Par Value With Amendment?
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FAQ
Conduct the extraordinary general meeting and obtain the approval of the shareholders to increase the authorized share capital on the time, date, and place that is mentioned on the notice. The approval of the shareholders to increase the authorized capital must be in the form of an ordinary resolution.
Articles of Incorporation must be amended to alert the state to major changes. Changes that qualify for state notification include changes to: address. company name.
Definition of Corporation It is an artificial being, created operation of law, having the right of succession and the powers, attributes, and properties expressly authorized by law or incident to its existence.
Either the directors or shareholders of a company may increase or decrease the number of authorised shares for a particular share class by amending the Memorandum of Incorporation (?MOI?) and filing a COR15. 2 with the CIPC.
To make amendments to your Washington State Corporation, you must provide the completed Articles of Amendment form and provide them to the Secretary of State by mail, by fax or in person, along with the filing fee.
The number of shares represents the authorized shares. The number of authorized shares can be increased by the shareholders of the company at annual shareholder meetings, provided a majority of the current shareholders vote for the change.
Because a corporation's Articles of Incorporation include the number of authorized shares and par value of those shares, a share amendment must be filed with the state in order to change this information.
HOWEVER, it's important to know the consequences of authorizing more stock shares before you do. In brief, increased stock means increased capital?yay! At the same time, creating more stock means all existing shareholders suddenly own a smaller percentage of your company, which can decrease shareholder value.