Quote:
Originally Posted by kelly_brooks
Authorized shares are the maximum number of shares that a company can issue. State law specifies that shares of stock in the corporation will be issued under the direction of the board of directors. But, in future, the shareholders can set, or limit, the number of shares the directors are "authorized", or allowed, to issue. A company usually authorizes a higher number of shares than required to be able to issue stock in the future.
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These law apply to corporation or private limited companies as well?