The articles of incorporation shall state the classes of shares and the number of shares of each class that the corporation is authorized to issue. If more than one class of shares is authorized, the articles of incorporation shall state a distinguishing designation for each class, and, before the issuance of shares of any class, […]
If the articles of incorporation so provide, the board of directors may determine, in whole or in part, the preferences, limitations, and relative rights, within the limits set forth in section 7-106-101, of: Any class of shares before the issuance of any shares of that class; or One or more series within a class before […]
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 they are reacquired, redeemed, converted, or canceled. The reacquisition, redemption, or conversion of outstanding shares is subject to the limitations contained in subsection (3) of this section and […]
A corporation may: Issue fractions of a share or pay in cash the value of fractions of a share; Arrange for disposition of fractional shares by the shareholders; or Issue scrip in registered or bearer form entitling the holder to receive a full share upon surrendering enough scrip to equal a full share. Each certificate […]
Unless otherwise provided in the articles of incorporation, the outstanding shares of a class or series may be reduced to a lesser number of shares by a reverse split made on the terms set forth in this section. To effect the reverse split, each outstanding share of the class or series shall be divided by […]
