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If the law is on your side, pound the law. If the facts are on your side, pound the facts. If neither the law nor the facts are on your side, pound the table.
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Legal Definitions - qualifying share
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Definition of qualifying share
A qualifying share is a type of share that is purchased by someone in order to become a director of a corporation that requires its directors to be shareholders.
For example, if a person wants to become a director of a corporation that requires its directors to own at least 100 shares of common stock, they would need to purchase 100 qualifying shares to meet this requirement.
This definition illustrates how a qualifying share is a specific type of share that serves a particular purpose, which is to qualify someone to become a director of a corporation. It also shows how owning a certain number of shares can be a requirement for certain positions within a corporation.
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Simple Definition
A qualifying share is a type of stock that someone buys in order to become a director of a company that requires its directors to be shareholders. It's like a special kind of ticket that lets you be part of the decision-making team for the company. Shares are like pieces of a pie that represent ownership in a company, and a qualifying share is just one type of share that has a specific purpose.
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