Existing Public Corporations

 Each corporation will offer a bid to the administrative judge based on the proportional percentage of share capital it is able and prepared to allot. The bid offer will include an allocation plan, supporting documentation and a detailed financial overview of the company.

The administrative judge will objectively review the bid on its merits. In the event of a bid’s rejection, the administrative judge will intervene and make a ruling on the disputed percentage on behalf of the general public and the corporation after a careful review and consideration of the unique financial circumstances of the firm. 

A corporation may appeal the ruling through an independent appeals process set forth in the law. A corporation caught hiding assets from federal investigators working for the administrative judge will be fined and penalized additional percentage points in accordance with the law.

One way we recommend for existing PCs to satisfy the UBIF obligation is by amending its corporate charter, whereby an existing PC may convert a desired portion of its authorized, unissued Class A common stock shares to a new class of common stock defined by its features of nonvoting, tax-free dividends and preemptive rights, which may be created and allotted for the specific purpose of paying off the UBIF obligation upon their issuance.