Form with which a corporation may alter the amount of outstanding shares issued by the corporation.
The New York Change Amount of Authorized Shares — Resolution For— - Corporate Resolutions is a legal document used by a corporation in New York to officially change the number of authorized shares of stock. This form plays a vital role in facilitating corporate decision-making and ensuring that all changes to the company's stock structure are properly authorized and documented. The purpose of the form is to provide a clear and concise resolution that sets out the intention to alter the number of authorized shares. By utilizing this form, corporations can go through the necessary legal process to increase or decrease their authorized share capital, which in turn enables them to issue additional stock or retire existing shares. The form typically consists of several sections that require important details in order to be considered valid. These details include the name of the corporation, its address, the date of the resolution, and the names and signatures of the company's officers or board members approving the resolution. The document also requires a specific statement indicating the new number of authorized shares being proposed, such as "Resolved, that the authorized shares of the Corporation be increased from [previous number of shares] to [new number of shares]." It is important to note that specific language and wording may vary depending on the type of change being made. For instance, there may be different forms for increasing authorized shares versus decreasing them. Additionally, some corporations may have different classes of shares, such as common stock and preferred stock, which may require separate resolutions. Overall, the New York Change Amount of Authorized Shares — Resolution For— - Corporate Resolutions serves as a legally binding document that enables corporations in New York to make changes to their authorized share capital. By properly completing and filing this form, businesses can ensure compliance with state laws and maintain accurate records of their stock ownership structure.The New York Change Amount of Authorized Shares — Resolution For— - Corporate Resolutions is a legal document used by a corporation in New York to officially change the number of authorized shares of stock. This form plays a vital role in facilitating corporate decision-making and ensuring that all changes to the company's stock structure are properly authorized and documented. The purpose of the form is to provide a clear and concise resolution that sets out the intention to alter the number of authorized shares. By utilizing this form, corporations can go through the necessary legal process to increase or decrease their authorized share capital, which in turn enables them to issue additional stock or retire existing shares. The form typically consists of several sections that require important details in order to be considered valid. These details include the name of the corporation, its address, the date of the resolution, and the names and signatures of the company's officers or board members approving the resolution. The document also requires a specific statement indicating the new number of authorized shares being proposed, such as "Resolved, that the authorized shares of the Corporation be increased from [previous number of shares] to [new number of shares]." It is important to note that specific language and wording may vary depending on the type of change being made. For instance, there may be different forms for increasing authorized shares versus decreasing them. Additionally, some corporations may have different classes of shares, such as common stock and preferred stock, which may require separate resolutions. Overall, the New York Change Amount of Authorized Shares — Resolution For— - Corporate Resolutions serves as a legally binding document that enables corporations in New York to make changes to their authorized share capital. By properly completing and filing this form, businesses can ensure compliance with state laws and maintain accurate records of their stock ownership structure.
