Series of shares

A subdivision of a class of shares. If a corporation’s articles permit shares of a class to be issued in one or more series, the directors may designate and assign characteristics to a series of shares that, subject to some limitations, may be different from shares of the same class in other series. Series characteristics may also be set in the articles. In the absence of the creation of a separate series within a class of shares, all shares of a class are equal in all respects. See CBCA, ss. 24(3) and 27.