Sec. 1. The articles of incorporation must prescribe the number of shares that the corporation is authorized to issue. If more than one (1) class of shares is authorized by the articles of incorporation, the articles of incorporation must prescribe the number of shares in each class and a distinguishing designation for each class. Before […]
Sec. 2. The articles of incorporation must authorize the following: (1) At least one (1) class of shares that together have unlimited voting rights. (2) At least one (1) class of shares, which may be the same class or classes as those with voting rights, that together are entitled to receive the net assets of […]
Sec. 3. (a) The articles of incorporation may authorize at least one (1) class of shares that have at least one (1) of the following characteristics: (1) Have special, conditional, or limited voting rights, or no right to vote, except to the extent prohibited by this article. (2) Are redeemable or convertible as specified in […]
Sec. 4. (a) If the articles of incorporation so provide, the board of directors may create at least one (1) series, and may determine, in whole or in part, the preferences, limitations, and relative voting and other rights within the limits set forth in sections 1 through 3 of this chapter of the following: (1) […]
Sec. 5. (a) A corporation may issue the number of shares of each class or series authorized by the articles of incorporation. Shares that are issued are outstanding shares until the shares are reacquired, redeemed, converted, or canceled. (b) The reacquisition, redemption, or conversion of outstanding shares is subject to the limitations of subsection (c) […]
Sec. 6. (a) A corporation may do any of the following: (1) Issue fractions of a share or pay in money the value of fractions of a share. (2) Arrange for disposition of fractional shares by the shareholders. (3) Issue scrip in registered or bearer form entitling the holder to receive a full share upon […]
