When a corporation issues no par value stock, the entire consideration received constitutes stated capital except that amount allocated in a manner permitted by law to capital surplus or paid-in surplus.

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When a corporation issues no par value stock, the entire consideration received is considered stated capital, except for any portion that may be legally allocated to capital surplus or paid-in surplus. This is because no par value stock does not have a nominal or face value, so the entire proceeds from its issuance are typically recorded as capital, unless specific legal provisions allow for a different allocation.

When a Corporation Issues No Par Value Stock, the Entire