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LSDefine
Simple English definitions for legal terms
assented stock
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A quick definition of assented stock:
Assented stock is a type of stock that an owner deposits with a third person according to an agreement by which the owner voluntarily accepts a change in the corporation's securities. Stock is a type of investment that represents ownership in a company. When you buy stock, you become a shareholder and have a stake in the company's success. Assented stock is a way for shareholders to agree to changes in the company's securities.A more thorough explanation:
Assented stock is a type of stock that an owner deposits with a third person according to an agreement by which the owner voluntarily accepts a change in the corporation's securities.
Example: John owns 100 shares of XYZ Corporation. The corporation decides to issue new shares, and John agrees to deposit his 100 shares with a third party in exchange for the new shares. This is an example of assented stock.
This example illustrates how an owner can voluntarily agree to change their ownership in a corporation by depositing their shares with a third party in exchange for new shares.