Authorized capital
Filed Under: Corporate and Commercial Law
1 definition found for this term.
Definitions are presented in the order source books were published (most recent first).
Source:
The classes and number of shares of each class that a corporation is permitted to issue as stated in its articles. The articles also set out the rights, privileges, restrictions, and conditions attached to each class of shares (e.g., Class A preferred shares that are entitled to an annual dividend of $5 per share). The CBCA and the other corporate statutes contain certain default provisions that apply if the articles are silent. See CBCA, s. 24