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Classified Shares

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Classified Shares
The separation of company Equity into more than one class of common shares, usually called "Class A" and "Class B."
    
Also known as "classified stock".
    
The specific features of each class are set out in the corporate Charter and bylaws. Voting privileges are the main reason companies create different classes, although liquidation and Dividend rights may also be involved. If the shares are to be classified, the articles shall contain a description of the classes of shares and a Statement of the number of shares of each kind or class and the nature and extent of the preferences, rights, privileges and restrictions granted to or imposed upon the holders of the respective classes of stock.
Posted by  LISA Life Insurance Settlement Association
 
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