Managing Shares

SystemWORKS allows you to enter details about shares (stock) in your company. Note that only one current stock of a given class can be held at any point in time. The terms 'share' and 'stock' are used interchangeably.

Notes:

1. Screens, fields and labels that display are based on your jurisdiction's implementation and may not reflect your filing type.
2. If you need to re-enter information, select the button labeled Previous to return to the screen you were on prior to the current screen.
3. Contact your Secretary of State office if you have questions about this or any procedure in SystemWORKS Help.

How to add stock:

1. After navigating from the previous screen, the Aggregate Shares screen displays.

2. Select the applicable radio button regarding the number of shares/par value of your stock. The screen refreshes to reflect your selection.

• If you select No. Shares exceeds 30,000 or the par value exceeds $30,000, provide the following:

• Select a Class from the drop-down list

• Enter the number of Issued Shares (ensure the number of issued shares does not exceed the number of authorized or an error message displays)

• Enter the number of Authorized Shares

• Select the applicable radio button: Share Par Value (enter amount) or No Par Value

• Enter Share Details (pertinent notes about the stock) in the text field

• If you select No. Shares DOES NOT exceed 30,000 or the par value DOES NOT exceed $30,000, select the Next: Incorporators button to display the Incorporators screen. See Step 4.

3. Select the Save Shares button to retain the information and update the Corporation Shares table. The stock will be in an Active (Pending) status until the filing is accepted by your jurisdiction.

4. Select one of the following buttons:
• Add Shares

Displays Add Shares screen; add shares per instructions  in this section.

• Update

Modifies the shares. See below for details.

4. Delete

Removes the shares. See below for details.

4. Previous: Registered Agent

Returns to the Registered Agent screen.

• Next: Incorporators

Saves entered information and displays the Incorporators screen.

How to update stock (same filing):

1. Select the Update button in the Corporation Shares table. The Update Shares screen displays information about the selected stock.

2. Modify the stock.
3. Select the Save Shares button to save your changes and update the Corporation Shares table. The status is Active (Pending) until the filing is accepted.

4. The Corporation Shares table updates with your changes.

5. Continue selecting the next button until you have paid for your filing.

How to delete shares (same filing):

1. Select the Delete button in the Corporation Shares table. A confirmation message displays.

2. Select OK to close the message and delete the shares.

3. The Corporation Shares table updates with your changes.

4. Continue selecting the next button until you have paid for your filing.

How to make a stock previous/current (stock in active status exists of same class being added):

1. After selecting the applicable corporation from search results, select an option from the Filing Type drop-down list on the Details screen. Refer to Filing an Amendment for additional information.

2. Navigate through applicable screens.

3. Select the Next: Share Increase button to display the associated screen.

4. To make the current stock previous, you can do one of the following:

• Select the Change button to make the current stock previous. A confirmation message displays.
• Select OK to close the message.
• Enter new stock (see how to update stock above).
• Stock is now available for updating and deletion, if needed.

• Select the Not current button to make the current stock previous. A confirmation message displays.
• Select OK to close the message.
• The status is set to Inactive (Pending).
• Select the Make current button to return the stock to its previous status.

Note: If you attempt to make all shares previous, an error message displays. At least one current stock is required.

5. The Corporation Shares table updates with your changes.

6. Continue selecting the next button until you have paid for your filing.

Related Information

Creating a Corporation

Filing an Amendment

Managing Registered Agents

Searching for a BE

Viewing BE Details