A Certificate of Designation is a legal document that outlines specific rights, privileges, preferences, and restrictions associated with a particular class or series of securities, usually preferred stock. This certificate is filed by a corporation or business entity with the appropriate state authority, such as the Secretary of State's office, to designate the unique characteristics and features of a particular class or series of securities it issues. The Certificate of Designation plays a crucial role in defining the specific rights and obligations of the shareholders who hold these designated securities. It provides clarity to both the company and the shareholders on various important aspects related to their shares. Some key details covered in the certificate typically include dividend rights, liquidation preferences, conversion rights, voting rights, redemption rights, and any other relevant provisions or limitations. The importance of a Certificate of Designation lies in its ability to distinguish between different classes or series of securities that a company may offer, thus allowing flexibility in meeting varying investor preferences. It ensures that the rights and privileges attached to each class or series of securities are well-defined, avoiding any confusion or conflict among shareholders. While the specifics of a Certificate of Designation may vary from company to company, there are two common types worth mentioning: 1. Certificate of Designation for Preferred Stock: Companies often issue different series of preferred stock with varying divided participation, conversion, or voting rights. The Certificate of Designation for Preferred Stock clearly outlines the specific rights and preferences associated with each series issued. 2. Certificate of Designation for Series LLC: In some jurisdictions, a Series Limited Liability Company (LLC) allows the creation of individual series with distinct assets, liabilities, and members. Each series within an LLC may require a Certificate of Designation to articulate the unique rights and obligations of the individual series. Overall, a Certificate of Designation serves as a critical legal document that defines the terms and conditions attached to a particular class or series of securities, offering clear guidelines for both the corporation and its shareholders. It ensures transparency, clarity, and consistency in the management of different securities classes, enabling investors to make informed decisions based on their preferences and risk appetite.
Certificate Of Designation Meaning
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Online payments are available 24/7 at onlineservices.NCcourts.org for supervised and unsupervised probationers with their case file number, the county that issued the charge, and a major credit card, including American Express®, Discover®, MasterCard®, and Visa® cards.
Whether you are paying monetary obligations previously imposed in a court's judgment or pleading guilty by ?waiver? (as discussed in the previous two questions), your payment options are the same: online, by mail, or in person at the courthouse (or at a magistrate's office, for in-person waivers).
The file for a court case can be viewed by visiting the clerk of court's office in the county where the case is located. Staff can provide copies of documents in court files for a fee. Also, see the Remote Public Access Program to learn more about licensing for data access and extracts.
Online probation payments can be made using the OCAP system at http:// onlineservices.nccourts.org/OCAP . Please have the county where you were convicted and your case number available when paying online.
Filing the Documents Take the original and two (2) copies of the Motion to the Civil Division of the Clerk of Superior Court's office in the county where your case is filed. The Clerk will stamp each Motion ?filed,? place the original in the Court file and return two (2) copies of the ?filed? document to you.
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Elisa Chinn-Gary - Mecklenburg County Clerk of Superior Court - Clerk of Superior Court & Judge of Probate | LinkedIn.