State the total number of shares the corporation is authorized to issue. Stating the initial par value per share is optional.A. The articles of incorporation shall prescribe the classes of shares and the number of shares of each class that the corporation is authorized to issue. Authorized shares is the maximum number of shares that the board of directors is "authorized", or allowed to issue. All shares combined are called stock. The AZ Corporation must have at least one class of authorized shares. The following is a checklist and explanation from A to Z of the tasks necessary to incorporate a business in Arizona. The standard number of authorized shares in Arizona is 1000 shares, with no-par value. The number of shares the corporation is authorized to issue. FIFTH: The Corporation is authorized to issue a total of 51,000,000 shares, consisting of two classes of stock, designated "Common Stock" and "Preferred Stock.