§ 10.07.

196 words·~1 min read·/vt/10-07-2

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

§ 10.07. Amendment pursuant to judicial reorganization

(a)A corporation’s articles may be amended without board approval or approval by the members or approval required pursuant to section 10.30 of this title to carry out a plan of reorganization ordered or decreed by a court of competent jurisdiction under federal statute if the articles after amendment contain only provisions required or permitted by section 2.02 of this title.

(b)The individual or individuals designated by the court shall deliver to the Secretary of State articles of amendment setting forth:

(1)the name of the corporation;

(2)the text of each amendment approved by the court;

(3)the date of the court’s order or decree approving the articles of amendment;

(4)the title of the reorganization proceeding in which the order or decree was entered; and

(5)a statement that the court had jurisdiction of the proceeding under federal statute.

(c)This section does not apply after entry of a final decree in the reorganization proceeding even though the court retains jurisdiction of the proceeding for limited purposes unrelated to consummation of the reorganization plan. (Added 1995, No. 179 (Adj. Sess.), § 1, eff. Jan. 1, 1997.)