47-1A-602.1. Terms of class or series determined by board of directors.
105 words·~1 min read·
/sd/title-47/chapter-47-1/47-1a-602-1·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If the board of directors acts pursuant to § 47-1A-602 , the board shall determine the terms, including the preferences, rights, and limitations, to the same extent permitted under §§ 47-1A-601 to 47-1A-601.2 , inclusive, of:
(1)Any class of shares before the issuance of any shares of that class; or
(2)Any series within a class before the issuance of any shares of that series.
Before issuing any shares of a class or series created under § 47-1A-602 , the corporation shall deliver to the Office of the Secretary of State for filing articles of amendment setting forth the terms determined under this section.