Can my calif c-corp, when issuing initial shares to founders, use uncertificated stock or must we do a physical certificate?
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As far as I know (and confirmed by searching the California SOS) there are no restrictions that prohibit the use of uncertified shares even to founders. However if I was a founder I would want certified shares and most corps that use uncertified shares give their shareholders the option to request a certificate if they want. I would recommend doing that as in http://www.wikinvest.com/stock/Virtus_Investment_PRTRS_(VRTS)/Certificates_Stock_Uncertified_Shares |
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