Wyoming Proposed amendment to the certificate of incorporation to authorize up to 10,000,000 shares of preferred stock with amendment
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How to fill out Proposed Amendment To The Certificate Of Incorporation To Authorize Up To 10,000,000 Shares Of Preferred Stock With Amendment?
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FAQ
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.
DEFINITION: A corporation is an artificial being created by operation of law, having the right of succession and the powers, attributes and properties expressly authorized by law or incident to its existence.
It is called a legal person because it can enter into a contract, own property in its own name, sue and be sued by others, etc. In essence, it is not human, but it acts through human beings. It is called an artificial person because it is invisible, intangible, and exists only in the vision of the law.
Common shares represent residual ownership in a company and in the event of liquidation or dividend payments, common shares can only receive payments after preferred shareholders have been paid first.
Corporation defined. - A corporation is an artificial being created by operation of law, having the right of succession and the powers, attributes and properties expressly authorized by law or incident to its existence.
In other words, the theory posits that it is an act of the state, i.e. the issuance of the charter, that creates a corporation as a legal fiction. ingly, ?a corporation is an artificial being, invisible, intangible, and existing only in contemplation of law?.
What is a paid-up capital stock? It is the portion of authorized capital stock which has been both subscribed and paid.
