Section 10A-2A-6.01 Authorized stock. (a) The certificate of incorporation must set forth any classes of stock and series of stock within a class, and the number of shares of stock of each class and series, that the corporation is authorized to issue. If more than one class or series of stock is authorized, the certificate […]
Section 10A-2A-6.02 Terms of class or series determined by board of directors. (a) When any corporation desires to issue any shares of stock of any class or of any series of any class of which the powers, designations, preferences, and relative, participating, optional, or other rights, if any, or the qualifications, limitations, or restrictions thereof, […]
Section 10A-2A-6.03 Issued and outstanding stock. (a) A corporation may issue the number of shares of stock of each class or series authorized by the certificate of incorporation. Stock that is issued is outstanding stock until it is reacquired, redeemed, converted, or cancelled. (b) The reacquisition, redemption, or conversion of outstanding stock is subject to […]
Section 10A-2A-6.04 Fractional stock. THIS SECTION WAS AMENDED BY ACT 2022-124 IN THE 2022 REGULAR SESSION, EFFECTIVE JUNE 1, 2022. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a) A corporation may issue fractions of a share of stock or in lieu of doing so may: (1) pay in cash the value of fractions of […]
