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Form #1526Stock terms
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Stock terms
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Stock terms.
The total amount of capital of this corporation is
_________ and the total number of shares into which it is divided is as
follows: (Describe fully the class or classes of stock and the value of each.)
_________ shares of _________ stock,
_________ par value of $_____ each
_________ shares of _________ stock,
_________ par value of $_____ each
Statement of all or any of the designations and the
powers, preferences and rights and the qualifications, limitations or
restrictions: (a) A professional corporation may issue the shares of its
capital stock only to a qualified person. A shareholder may voluntarily
transfer his or her shares in a professional corporation to the corporation or
to a qualified person with the prior written consent of the corporation unless
the articles of incorporation provide otherwise. No shares may be transferred
upon the books of the professional corporation or issued by the professional
corporation until there is presented to and filed with the corporation a
certificate by the regulating board stating that the person to whom the
transfer is to be made or the shares issued is licensed to render the same type
of professional services as that for which the corporation was organized. No
shareholder shall enter into any voting trust agreement, proxy, or any other
type of agreement vesting another person, other than another shareholder of the
same corporation, with authority to exercise the voting power of any or all of
his or her stock. The issuance or transfer of any shares and any proxy, voting
trust or other agreement made in violation of this section shall be null and
void. Every certificate of stock issued by the professional corporation shall
contain substantially the following provisions: "The ownership and
transfer of this stock and the rights and obligations of stockholders are
subject to the limitations and provisions of the professional corporation law
of _________."
(b). The _________ securities law (chapter _________,
article _________, _________ Stats Ann) shall not be applicable to nor govern
any transactions relating to any shares of a professional corporation.
Statement of grant of authority, as may be desired to
be given to the board of directors, if given. _________
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Submissions to this site, including any legal or business forms, posts, responses
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not be construed as legal advice. You are strongly encouraged to consult competent
legal council before engaging in any action based upon content contained on this
site.
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or any other commercial use is prohibited. This includes reposting forms from this
site to another site offering free legal or other document forms for download.
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form, and you agree to abide by these terms. It is highly recommended that you have
a licensed attorney review any legal documents for which you are searching in order
to make sure that your needs are being properly and completely satisfied.
Your use of this site constitutes your acceptance of our terms of use and your agreement
to hold this site, its officers, employees and any contributors to this site harmless
for any damage you might incur from your use of any submissions contained on this
site. If you do not agree to the above terms, please do not proceed.
These forms are provided to assist business owners and others in understanding important
points to consider in different transactions. They are offered with the understanding
that no legal advice, accounting, or other professional service is being offered
by these documents or on this website. Laws vary in the different states. Agreements
acceptable in one state may not be enforced the same way under the laws of another
state. Also, agreements should relate specifically to the particular facts of each
situation. Therefore, it is important to consult legal counsel whenever utilizing
these forms. The Forms are not a substitute for legal advice YourFreeLegalForms.com
is not engaged in recommending or referring members on the site or making claims
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