A corporation may acquire its own shares and those shares constitute authorized but unissued shares, except as provided in subsection (4). Shares which have been converted shall be restored to the status of authorized but unissued shares, unless otherwise provided in the articles of incorporation.The filing fee is based upon the number of authorized shares of stock (see below). The articles of incorporation must specify the total number of authorized shares of stock. Authorized Shares: List the number of shares you're creating. The amount of type of authorized stock. I usually advise companies to authorize around 10 to 15 million shares of common stock. Around 8 or 9 million shares are issued to founders.

Authorized Shares Of Stock In Michigan

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