§ 802. Reduction of stated capital by amendment.
102 words·~1 min read·
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§ 802. Reduction of stated capital by amendment.
(a)A corporation may reduce its stated capital by an amendment of its
certificate of incorporation under section 801 (Right to amend
certificate of incorporation) which:
(1)Reduces the par value of any issued shares with par value.
(2)Changes issued shares under subparagraph
(11)of section 801
that results in a reduction of stated capital.
(3)Removes from authorized shares, shares that have been issued,
reacquired and cancelled by the corporation.
(b)This section shall not prevent a corporation from reducing its
stated capital in any other manner permitted by this chapter.