STOCKHOLDER approval required to issue stock: My point is that stockholder, not merely director, approval is needed to issue more stock. Directors usually can't do so. Thus even if the directors held a majority of stock, I believe a stockholder meeting must be noticed to all stockholders and held. Then I and other stockholders would have opportunity to ask questions and state whether I approve or object to the proposal to issue more stock before valid issuance of more stock can take place. ALL stockholders, including those who happen to also be directors, can thus vote their stock on the issue of more stock being authorized. Thus I ask by what authority more stock continues to be issued? Has anyone looked at the articles of incorporation or By-Laws to see what is stated about stock issuance?
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