If more than one class of shares is authorized, each class must be given a distinguishing designation with a description of the respective rights of each class. The number of shares the corporation is authorized to issue.Utah articles of incorporation are filed to create a corporation. This guide provides instructions and tips when preparing and filing this legal document. "Authorized shares" refers to the number of shares the corporation is allowed to issue under its certificate or articles of incorporation. Learn how to start a corporation in Utah. We'll help you open a Utah corporation, create bylaws, and form a board of directors. It is also usually listed in the capital accounts section of the balance sheet. A stock certificate is a legal document that verifies an investor's ownership of common stock shares, a type of security. The aggregate number of shares the Corporation is authorized to issue shall be Fifty Million (50,000,000) shares of common stock.