Do we have to submit changes of shareholders of a corporation formed in NY state to the Department of Corporations?
Md Ariful Islam
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Dr. Md Rushad Rahman
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No. Corporate shares are intended to be fluid, which means they are supposed to be easily sold or transferred. You may transfer shares at any time without notifying the state. The only time you need to file something is if you change the authorized type or amount of shares that the corporation issues. If you issue shares beyond what was authorized in the original Certificate of Incorporation, then you will need to file an amendment to the Certificate of Incorporation.
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