490.1001 Amendment of articles of incorporation — authority to amend.
103 words·~1 min read·
/ia/chapter-490-business-corporations/490-1001·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
1. A corporation may amend its articles of incorporation at any time to add or change a provision that is required or permitted in the articles of incorporation as of the effective date of the amendment or to delete a provision that is not required to be contained in the articles of incorporation.
2. A shareholder of the corporation does not have a vested property right resulting from any provision in the articles of incorporation, including provisions relating to management, control, capital structure, dividend entitlement, or purpose or duration of the corporation.
89 Acts, ch 288, §109; 2002 Acts, ch 1154, §54, 125