Putative Issuance
Putative Issuance refers to the issuance of any class or series of shares of a corporation that was purportedly created or issued as a result of a defective corporate action. A Putative Issuance most commonly occurs when a corporation issues shares in excess of its Authorized Shares. The impact and effect of a Putative Issuance varies by state and commonly requires specific remedial measures be followed to validate such issuance.