Through Ohio Business Central, you can file a number of forms online, obtain and request publications, search existing businesses and sign up for our. Authorized shares is the maximum number of shares that the board of directors is "authorized", or allowed to issue.Each stockholder is entitled to one vote for each share of voting stock held. Authorized capital stock is the largest amount of shares a company is permitted to issue. Authorized stock is the maximum number of shares that a corporation is legally permitted to issue, as specified in its articles of incorporation. Outstanding shares are shares of stock that have been issued. Our authorized capital stock consists of 200,000,000 common shares and 10,000,000 preferred shares, issuable in series. Authorized Capital Stock. Finance Corporation to two debenture holders, one of whom, Philip Frank, owns the outstanding capital stock of the corporation.