Wisconsin 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
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.
The maximum number is established in a company's legal formation documents, known as the articles of incorporation. Also referred to as authorized stock or authorized capital stock, there is no limit as to the total number of shares that can be authorized within these documents for a larger company.
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.
To make amendments to your Wisconsin articles of incorporation, you can file Wisconsin Form 4, Articles of Amendment ? Stock, for-Profit Corporation to the Wisconsin Department of Financial Institutions (DFI). The form is optional; you may draft your own Articles of Amendment.
Company can increase its Authorized Share Capital, only if it is authorized by its Articles of Association and after obtaining approval of members by passing an ordinary resolution in Extra-Ordinary general meeting of the company. [Section 61(1)].
Yes, a company can change the number of authorized shares it is allowed to issue. Public companies must often notify existing shareholders and call for a shareholder vote. The measure is then often reviewed at the following shareholder meeting.
If you already have par value and you want to raise or lower it, things are a bit more complicated. Typically, you can't just make an amendment saying you now have a new par value. Instead, the most common way that corporations change their par value is with a stock split (or reverse stock split).
Issuing of extra shares will require a resolution to be passed by a general meeting of the company shareholders. The only way of avoiding diluting the company further by issuing shares to new investors is by existing shareholders taking up the extra shares on top of their own.