Form with which a corporation may alter the amount of outstanding shares issued by the corporation.
The North Dakota Change Amount of Authorized Shares — Resolution For— - Corporate Resolutions is a legal document used by corporations in the state of North Dakota to change the number of authorized shares of stock in the company. This form is a crucial tool for companies seeking to increase or decrease the number of shares available for issuance. The authorized shares of a corporation represent the maximum number of shares it can legally issue. This figure is typically set during the company's initial formation and can be changed later through the submission of this resolution form. The purpose of this form is to obtain formal approval from the company's board of directors and shareholders to modify the authorized share capital. It ensures that all necessary parties are aware of and have approved the changes being made to the company's share structure. The North Dakota Change Amount of Authorized Shares — Resolution For— - Corporate Resolutions is composed of various sections. These sections typically include: 1. Heading: This identifies the document as a resolution form for changing the amount of authorized shares in a North Dakota corporation. It may include the corporation's name, address, and other identifying information. 2. Resolution Language: This section begins with a statement declaring the intention to amend the company's Articles of Incorporation or bylaws to change the authorized share capital. It may include specific details regarding the proposed changes, such as the exact number of shares to be added or subtracted. 3. Board of Directors Approval: This section contains spaces for the board of directors to indicate their approval of the resolution. Board members typically sign and date this section to authenticate their consent. 4. Shareholders' Approval: This section provides space for shareholders to sign and date the resolution, indicating their consent to the proposed changes. The number of shares owned by each shareholder may also be recorded here. 5. Notary Section: This section is typically included to ensure the document's authenticity. A notary public can witness the signatures and affirm the validity of the resolution form. Different types of North Dakota Change Amount of Authorized Shares — Resolution Form— - Corporate Resolutions may vary in format or content based on individual company needs or legal requirements. For example, some corporations may have multiple classes of shares and may require separate resolutions for each class. Additionally, the form may need to comply with specific rules outlined by the North Dakota Secretary of State or other regulatory bodies. In summary, the North Dakota Change Amount of Authorized Shares — Resolution For— - Corporate Resolutions is a crucial legal document utilized by North Dakota corporations to modify the number of authorized shares. It serves as a formal approval mechanism from the board of directors and shareholders for alterations to the company's capital structure.The North Dakota Change Amount of Authorized Shares — Resolution For— - Corporate Resolutions is a legal document used by corporations in the state of North Dakota to change the number of authorized shares of stock in the company. This form is a crucial tool for companies seeking to increase or decrease the number of shares available for issuance. The authorized shares of a corporation represent the maximum number of shares it can legally issue. This figure is typically set during the company's initial formation and can be changed later through the submission of this resolution form. The purpose of this form is to obtain formal approval from the company's board of directors and shareholders to modify the authorized share capital. It ensures that all necessary parties are aware of and have approved the changes being made to the company's share structure. The North Dakota Change Amount of Authorized Shares — Resolution For— - Corporate Resolutions is composed of various sections. These sections typically include: 1. Heading: This identifies the document as a resolution form for changing the amount of authorized shares in a North Dakota corporation. It may include the corporation's name, address, and other identifying information. 2. Resolution Language: This section begins with a statement declaring the intention to amend the company's Articles of Incorporation or bylaws to change the authorized share capital. It may include specific details regarding the proposed changes, such as the exact number of shares to be added or subtracted. 3. Board of Directors Approval: This section contains spaces for the board of directors to indicate their approval of the resolution. Board members typically sign and date this section to authenticate their consent. 4. Shareholders' Approval: This section provides space for shareholders to sign and date the resolution, indicating their consent to the proposed changes. The number of shares owned by each shareholder may also be recorded here. 5. Notary Section: This section is typically included to ensure the document's authenticity. A notary public can witness the signatures and affirm the validity of the resolution form. Different types of North Dakota Change Amount of Authorized Shares — Resolution Form— - Corporate Resolutions may vary in format or content based on individual company needs or legal requirements. For example, some corporations may have multiple classes of shares and may require separate resolutions for each class. Additionally, the form may need to comply with specific rules outlined by the North Dakota Secretary of State or other regulatory bodies. In summary, the North Dakota Change Amount of Authorized Shares — Resolution For— - Corporate Resolutions is a crucial legal document utilized by North Dakota corporations to modify the number of authorized shares. It serves as a formal approval mechanism from the board of directors and shareholders for alterations to the company's capital structure.
