Capital Stock Vs Authorized Capital Stock In Travis
State:
Multi-State
County:
Travis
Control #:
US-0040-CR
Format:
Word;
Rich Text
Instant download
Description
The document titled 'Resolution of the Board of Directors' outlines the process for authorizing the issuance of common stock for a corporation in Travis. It clarifies the distinction between capital stock and authorized capital stock, indicating that authorized capital stock is the total amount of stock a corporation is allowed to issue, while capital stock refers to the actual shares that have been issued and are held by shareholders. Key features include provisions for issuing shares based on monetary consideration or the transfer of assets. The document requires signatures from the Board of Directors and includes a certification section for the Secretary. Filling and editing instructions emphasize accuracy in the details related to share distribution and consideration amounts. This form is particularly useful for attorneys, partners, and owners involved in corporate governance, as it formalizes decisions made regarding equity allocation. Paralegals and legal assistants benefit from this document for its clarity in procedural compliance and documentation of board actions.
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