California Corporations Code

§ 903

CORP § 903 Effective Jan 1, 1998Div. 1 · Title 1 · Ch. 9

Statute text

(a)A proposed amendment must be approved by the outstanding shares (Section 152) of a class, whether or not such class is entitled to vote thereon by the provisions of the articles, if the amendment would:

(1)Increase or decrease the aggregate number of authorized shares of such class, other than an increase as provided in either subdivision (b) of Section 405 or subdivision (c) of Section 902.

(2)Effect an exchange, reclassification, or cancellation of all or part of the shares of such class, including a reverse stock split but excluding a stock split.

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Legislative history

Amended by Stats. 1997, Ch. 136, Sec. 4. Effective January 1, 1998.