The par value of shares multiplied by the number of shares outstanding. The amount of stated capital may effect the ability to pay dividends. Stock An equity or ownership interest in a corporation, measured in shares. Ownership of shares is demonstrated by stock certificates. Stock Certificate A written instrument that shows ownership of shares in a corporation.
Stockholder See shareholder.
A record book which lists the owners of shares of stock in a corporation. Vires Traditionally, the purpose of a corporation was closely spelled out in its articles of incorporation. If the corporation acted beyond its described purposes these actions were unenforceable against the corporation or by the corporation. However, most modern statutes allow corporate purposes to be any lawful activity. Nearly all states allow directors and shareholders to act without a meeting if they each give their consent to specific corporate actions in writing.