Chicago Illinois Proposed Amendment to create a class of Common Stock that has 1-20th vote per share

• Category: Corporations - Public - Changes Affecting Capital Stock
• State: Multi-State
• City: Chicago
• Control #: US-CC-3-189X
• Format: Word; Rich Text

Description

This sample form, a detailed Proposed Amendment to Create a Class of Common Stock That Has 1/20th Vote Per Share document, is a model for use in corporate matters. The language is easily adapted to fit your specific circumstances. Available in several standard formats. Chicago Illinois Proposed Amendment to create a class of Common Stock that has 1-20th vote per share is a potential legislation aimed at introducing a new type of stock structure within Chicago, Illinois. This proposed amendment seeks to establish a distinct class of Common Stock that carries a reduced voting power, specifically 1 vote per every 20 shares held. Keywords: Chicago Illinois, Proposed Amendment, Common Stock, Class, Vote, Share. This amendment is expected to have various potential types, including: 1. Class C Common Stock: This proposed type of Common Stock, if approved, would grant shareholders 1 vote for every 20 shares they own. It would represent a class with reduced voting rights compared to existing stock classes. 2. Limited Voting Common Stock: Another potential type of Common Stock that could be created by this amendment is the Limited Voting Common Stock. This class of stock would grant shareholders only 1 vote for every 20 shares held, effectively limiting their influence on corporate decision-making processes. 3. Non-Voting Common Stock: This proposed amendment might also introduce a Non-Voting Common Stock class, wherein shareholders would have no voting rights, except for exceptional circumstances defined by the corporation's bylaws or charter. 4. Subordinate Voting Common Stock: In addition, this amendment could potentially establish a Subordinate Voting Common Stock class, providing shareholders with a vote per share held, but with the specific provision that each share of this class has 1/20th voting power compared to the existing class of Common Stock. 5. Hybrid/Common Equity/Preferred Stock: The proposed amendment might also consider the creation of a hybrid stock class, combining elements of Common Stock and Preferred Stock. This class could potentially have 1/20th vote per share, along with preferential dividend rights or other advantages usually associated with Preferred Stock. Please note that these categorizations are hypothetical and subject to the specific language and provisions of the actual Chicago Illinois Proposed Amendment. The amendment will ultimately determine the specific types and characteristics of the newly created class of Common Stock.

Chicago Illinois Proposed Amendment to create a class of Common Stock that has 1-20th vote per share is a potential legislation aimed at introducing a new type of stock structure within Chicago, Illinois. This proposed amendment seeks to establish a distinct class of Common Stock that carries a reduced voting power, specifically 1 vote per every 20 shares held. Keywords: Chicago Illinois, Proposed Amendment, Common Stock, Class, Vote, Share. This amendment is expected to have various potential types, including: 1. Class C Common Stock: This proposed type of Common Stock, if approved, would grant shareholders 1 vote for every 20 shares they own. It would represent a class with reduced voting rights compared to existing stock classes. 2. Limited Voting Common Stock: Another potential type of Common Stock that could be created by this amendment is the Limited Voting Common Stock. This class of stock would grant shareholders only 1 vote for every 20 shares held, effectively limiting their influence on corporate decision-making processes. 3. Non-Voting Common Stock: This proposed amendment might also introduce a Non-Voting Common Stock class, wherein shareholders would have no voting rights, except for exceptional circumstances defined by the corporation's bylaws or charter. 4. Subordinate Voting Common Stock: In addition, this amendment could potentially establish a Subordinate Voting Common Stock class, providing shareholders with a vote per share held, but with the specific provision that each share of this class has 1/20th voting power compared to the existing class of Common Stock. 5. Hybrid/Common Equity/Preferred Stock: The proposed amendment might also consider the creation of a hybrid stock class, combining elements of Common Stock and Preferred Stock. This class could potentially have 1/20th vote per share, along with preferential dividend rights or other advantages usually associated with Preferred Stock. Please note that these categorizations are hypothetical and subject to the specific language and provisions of the actual Chicago Illinois Proposed Amendment. The amendment will ultimately determine the specific types and characteristics of the newly created class of Common Stock.