The West Virginia Authority to Issue Additional Shares refers to the legal power granted to corporations incorporated in the state of West Virginia to increase the number of their outstanding shares. This authority is crucial for businesses seeking to raise additional capital or expand their ownership base. In West Virginia, corporations typically obtain the authority to issue additional shares through their articles of incorporation. This document serves as the company's charter and outlines various provisions, including the number of authorized shares. The articles of incorporation can be amended, allowing corporations to increase the authorized share capital and issue additional shares when needed. The authority to issue additional shares offers several benefits to corporations. It enables them to raise funds for various purposes, such as financing expansion plans, funding research and development, or pursuing mergers and acquisitions. By increasing their available shares, companies can attract investors and generate additional capital, facilitating their growth and strengthening their financial position. There are different types of West Virginia Authority to Issue Additional Shares, including: 1. Authorized but Unis sued Shares: Companies often have a portion of their authorized shares unis sued. The authority to issue these shares provides the flexibility to raise capital in the future without the need for further amendments to the articles of incorporation. 2. Preferred Shares: Some corporations may have the authority to issue preferred shares in addition to common shares. Preferred shares have distinct rights and privileges, such as priority in dividend payments or preference in the distribution of assets. This type of authority allows companies to customize their equity structure to cater to specific investor preferences. 3. Rights Offerings: The authority to issue additional shares through rights offerings gives existing shareholders the opportunity to purchase new shares before they are offered to the public. This helps maintain the proportional ownership of current shareholders while raising capital from within the company's existing investor base. 4. Stock Dividends: The authority to issue shares as stock dividends allows corporations to distribute additional shares to existing shareholders as a form of dividend instead of cash. This method allows companies to reward shareholders while conserving their cash resources. In conclusion, the West Virginia Authority to Issue Additional Shares empowers corporations to increase their share capital and raise funds for growth and development. It provides flexibility, enabling companies to adapt to changing market conditions and investor demands. Understanding the different types of authority, such as authorized, but unis sued shares, preferred shares, rights offerings, and stock dividends, allows businesses to effectively utilize this power to meet their financial objectives.
West Virginia Authority to Issue Additional Shares
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The first $20,000 of assessed value of owner-occupied residential property owned by a person age 65 or older or by a person who is permanently and totally disabled is exempt. Household goods and personal effects not used for commercial purposes.
West Virginia Code §11-22-1, provides for exemptions to paying the Transfer Tax Fee. Deeds must specifically state the reason for exemption, otherwise, the Transfer Tax Fee will be charged. Every Deed recorded requires a completed Sales Listing Form to be attached. The Sales Listing Form can be found here.