IN Securities and Exchange Commission (SEC) OGC Opinion 22-12 dated Sept. 27, 2022, the requesting party asked whether a corporation may be allowed to issue shares of stock at a premium and whether a corporation was allowed to have more paid-up capital than its authorized capital stock.
The SEC answered both queries in the affirmative and discussed the terms "authorized capital stock," "paid-up capital stock," "paid-in capital stock" and "additional paid-in capital." It said that "authorized capital stock" referred to the "amount fixed in the articles of incorporation to be subscribed and paid by the stockholders of the corporation," while "paid-up capital" was the "portion of the authorized capital stock which has been subscribed and paid."
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