47-1A-602. Classification or reclassification of unissued shares determined by board of directors.
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/sd/title-47/chapter-47-1/47-1a-602A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If the articles of incorporation so provide, the board of directors, without shareholder approval, may:
(1)Classify any unissued shares into one or more classes or into one or more series within a class;
(2)Reclassify any unissued shares of any class into one or more classes or into one or more series within one or more classes; or
(3)Reclassify any unissued shares of any series of any class into one or more classes or into one or more series within a class.