49-33-23. Issuance of preferred stock.
72 words·~1 min read·
/sd/title-49/chapter-49-33/49-33-23A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Notwithstanding the provisions of §§ 47-1A-601 to 47-1A-640.5 , inclusive, a corporation, now or hereafter formed under the provisions of this chapter may provide in its articles of incorporation, or in any amendment thereof, for the issuance of preferred stock in series and authorize the board of directors (within the limits, if any, prescribed in such articles of incorporation or amendment) to fix certain or all of the characteristics and rights thereof.